PID

PR No. 43 European Union Envoy Calls On Finance Minister Islamabad

Ambassador of European Union, Mr. Jean-Francois Cautain, called on Finance Minister, Senator Mohammad Ishaq Dar and exchanged views on enhancing Pak-EU economic cooperation.

The Minister briefed the Ambassador about the reforms undertaken by the government, driven by the 4Es manifesto of the PML-N. He said that the economic stability achieved by Pakistan had been internationally recognized and after achieving stability, Pakistan is now on the path to growth and employment generation. The EU envoy appreciated the economic performance over the last two and a half years.

Mr. Jean-Francois on the occasion said that EU had close collaboration with Pakistan in different economic spheres. He cited the example of European Investment Bank (EIB) financing for Warsak Dam rehabilitation and Keyal Khwar power project and said that EIB was now willing to invest more in Pakistan’s energy sector.

The Finance Minister welcomed EIB financing and sought investment in signature projects. He sought information about extent and range of financing available with EIB for projects in Pakistan and said that Pakistan could come up with viable projects to make best use of that financing.

The European envoy discussed with the Finance Minister Pakistan’s exports to the EU in the context of GSP plus status and said that EU wanted to work with Pakistan to make best use of the facility. The Finance Minister thanked the EU envoy for the GSP plus status and opined that Pakistan offers comparatively low labour cost which is already attracting international companies to relocate their business from other parts of the region to Pakistan. He said that Pakistan provides opportunities and incentives to any European companies interested in investing in the country.

Mr. Jean-Francois thanked the Minister for receiving him for the meeting despite his hectic schedule. He said he would keep up efforts to strengthen Pak-EU cooperation. The Minister assured him of all out support in this regard.

The meeting was attended by Secretary Economic Affairs Division and senior officials of the Ministry of Finance.

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