PARIS - French Minister for Finance, Economy and Industry Michel Sapin has said Pakistan has made impressive economic gains in the last three years characterised by macroeconomic stability, fiscal discipline, sustained growth rate and record breaking performance of its stock market.

During his meeting with Finance Minister Senator Ishaq Dar in Paris, Michel said that the Pakistan’s achievements in the war against terrorism are equally laudable. The French minister acknowledged the Pakistan's economic achievements and expressed the hope that the journey towards further progress would continue. He said Pakistan can maintain high growth rates in the coming years with continuation of current policies.

Michel congratulated Dar on joining the Open Government Partnership (OGP) process. He also appreciated the ratification by Pakistan of the OECD Convention on Mutual Assistance on Tax Matters.

Dar apprised Michel of the importance Pakistan attached to transparency in public matters and his intention to make Pakistan a member of the OECD convention against bribery in due course. Dar briefed him 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. 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 the AETC to ministerial level. Dar also invited his French counterpart to visit Pakistan to co-chair the next meeting of the AETC.