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France has no concern over CPEC: envoy

KARACHI: France has no concern over China-Pakistan Economic Corridor (CPEC) as it will help providing regional connectivity, said French ambassador. 
In an exclusive talk after an inaugural ceremony of new factory of D L Nash, Dr Marc Barety, ambassador of France to Pakistan said that presently CPEC was only for local and Chinese companies and if level playing field was provided, France will look into it and discuss entry points to find space in this mega project. 
He said that energy, agriculture and automobile were the potential sectors for France to pour investments in Pakistan under CPEC; adding that imports from Pakistan was hovering around 800 million Euros while exports to Pakistan was maintaining at 600 million Euros hence there was a need of diversification for both countries to balance bilateral trade. 
Replying to a question, he said that French development agency had a portfolio of 700 million Euros for Pakistan and the agency was annually spending 150 million Euros for last four years and added that the agency was also investing in Jakran hydropower plant. 
In his keynote address, Shabir Ahmed, chief executive D L Nash said that initially investment for this new factory was US$5 million of which 11 percent or US$0.55 million was poured by his French partner. 
He opined that after the inauguration of this new factory, many more, and bigger, joint ventures would follow; hoping that this new facility would meet the highest quality standards and reach levels of productivity and make them globally competitive. Saifullah Junejo collector port Qasim was also present on the occasion.