Concluding his official visit to Paris, Senator Mohammad Ishaq Dar, Finance Minister met with French Finance Minister Michel Sapin yesterday. This was his second meeting with French counterpart in the last three months.
Minister Sapin congratulated the Finance Minister on joining the Open Government Partnership process. He also appreciated the ratification by Pakistan of the OECD Convention on Mutual Assistance on Tax Matters. The Finance Minister apprised him of the importance Pakistan attached to transparency in public matters and his intention to make Pakistan a member of OECD Convention against Bribery in due course.
The Finance Minister briefed Minister Sapin on the turnaround of Pakistan’s economy in the last three years, macroeconomic stability, and improvement of energy and security situation in the country, which has provided a conducive atmosphere for foreign direct investment. Mr. Sapin acknowledged Pakistan’s economic achievements and expressed hope that the journey towards further progress and development would continue.
Both the Ministers also discussed trade, economic and investment relations between the two countries. While expressing satisfaction over the upward trajectory of bilateral relations, including decision by French automobile company Renault to start manufacturing vehicles in Pakistan, they emphasized the need to further strengthen ties through the institutional mechanism of Administrative, Economic and Trade Committee (AETC). They agreed, in principle, to upgrade AETC to Ministerial level. The Finance Minister invited Mr. Sapin to visit Pakistan to co-chair the next meeting of AETC. Prior to that, both sides would meet early next year at Secretary level to prepare the ground for the Ministerial meeting.
Secretary Economic Affairs Division and Ambassador of Pakistan to France were also present at the meeting.