KARACHI - “The idea of a Transatlantic Trade and Investment Partnership between USA and EU would enhance economic integration but would not be detrimental to the trade and investment with developing nations of the world. Economic slowdown and stagnation in Europe in spite of a strong Euro necessitates the rethinking in the European Union.”, this was stated by Philippe Thiebaud, Ambassador of France to Pakistan during his visit to Karachi Chamber of Commerce & Industry (KCCI). The French Ambassador further added that unless a global deal is instituted, EU would continue to have bilateral trade agreements with various countries and would continue to provide preferential market access like GSP Plus and would also address issues such as protectionism or currency wars. The French envoy who was accompanied by Christian Ramage French Consul General in Karachi, and Marc Murcia, Head of Economic Department in Embassy of France in Islamabad further added that the ball is in the court of Pakistan to effectively negotiate with EU to obtain GSP plus in 2014 for a period of 4 years.He stated that under the new guidelines, Pakistan qualified for this preferential treatment and EU hopes that Pakistan would address 27 international conventions. On a question of  military and defence cooperation, the Ambassador referred to Mirage Aircrafts, Agosta Submarine and Daphne class submarines and stated that more potential in private-to-private sector in defence production and technical knowhow does exist. He said that although coal is very expensive to mine and produce, France has expertise available. Once Pakistan focuses on its coal priority, efforts can be made to attract EU experts to assist Pakistan in this very important sector. He, moreover, agreed that Pakistan fisheries sector requires upgrading and a lot of improvement to conform to EU standards. He said that he was hopeful that a mechanism could be made to upgrade Pakistan’s fisheries sector to commence exports to EU again. He said that the responsibility lies on those in fisheries sector who have to themselves work on it. He appreciated the role of KCCI in promotion of trade and industry and to uplift economy.Earlier, KCCI President Muhammad Haroon Agar urged Ambassador of France to invite new French investors to invest in Pakistan. Exchanging views, he highlighted that many French companies were enjoying profitable business in Pakistan. He stated that Pakistan and France have $1.3 billion bilateral trade volume. Pakistan has surplus in trades. For last 63 years, a close relationship in trade, diplomatic affairs, education and investment is witnessed.  Majyd Aziz, Former President KCCI, Nasir Mehmood, Vice President, Zia Ahmed Khan, Chairman, Diplomatic Committee and Managing Committee Members of KCCI also participated in the meeting.