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The Board of Directors of Pakistan-France Business Alliance under the leadership of the Chairman/CEO Mr. Jamil Hamdani hosted the 3rd Trade Performance Award ceremony on November 29th, 2019 at a Movenpick hotel in Karachi.
The PFBA Patron-in-Chief of Pakistan-France Business Alliance His Excellency Mr. Marc BARETY, the Ambassador of France to Pakistan was the Chief Guest at the occasion and Mr. Mehmood Bhatti French Designer from Paris, as Guest of Honor has specially visited Pakistan for gracing the occasion.
The Consul General of France Mr. Didier TALPAIN and the recently assigned Head of the French Economic Department Mr. Dominique SIMON graced the event with their presence.
The Principal Sponsors of this year's award ceremony was Sind Medical Stores with Infotel Pakistan, Martin Dow Group, and Himont Pharmaceuticals as the Lead Sponsors, Total Parco, ATCO Labortries and S. Ejazuddin supported the event.
GUL AHMED TEXTILE MILLS LIMITED
PENNA OVERSEAS CORPORATION
HEALTH CARE PRODUCTS
SIND MEDICAL STORES
GLOBAL MARKETING SERVICES (TIE)
SIND MEDICAL STORES (TIE)
SIND MEDICAL STORES
ATLAS EXPORT PVT LTD
GIA EXPORT MARKETING SERVICES
MARTIN DOW GROUP
3rd PAKISTAN FRANCE TRADE PERFORMANCE AWARDS
Mr. Jamil Hamdani in his address spokes about Pakistan's economic times characterized by high budgetary and current account deficit.
The Chairman/CEO also described that according to IMF the economic growth is expected to fall to 2.4% in 2019-20 and the inflation will rise to 13% after 7.3% in 2018-19. The foregin trade of Pakistan has shrunk by 5.8% in 2018-19, due mainly to the fall in imports.
The Chairman described that our exports are not rising (they fell by 2.2% in 2018-19), although successive devaluations of the Rupee should have stimulated the exports.
The Chairman/CEO made his statement that is is satisfying to note that the bilateral trade between Pakistan and France has continued to cross the 1 Billion Euro mark for the last few years, it was 1.3 Billion Euros in 2018. But Pakistan's total export volume for France of 875 Million Euros is composed to the tune of 85% by textile products and leather goods.
The Chairman/CEO congratulated the award recipients in the various categories and has stressed the need to double our efforts to increase the two way trade with France.
The Chief Guest the Ambassador of France to Pakistan H.E. Marc BARETY said in his address that indeed heartening that the PFBA has kept up with its tradition of acknowledging the performance of the leading exporters and importers from our two countries.
H.E. Marc BARETY pointed that despite a decrease in the volume of the bilateral trade last year, it is still exceeding the billion Euro threshold, with Pakistan exports to France reaching 875 million Euros and French exports to Pakistan nearly 400 million Euros.
His Excellency said that "I have unwavering faith in the economic potential of Pakistan and in the great role this country can play in the economic uplift of the entire region. The business community of this country is vibrant and dynamic."
H.E Excellency mentioned that the Trade Awards ceremony bears testimony to the role played in this respect by the PFBA and the Embassy of France in Pakistan will continue to extend its full cooperation to the latter for promoting and enhancing economic and commercial relations between France and Pakistan.
Awards were presented in the below 15 product categories:
A special appreciation award was presented to the Principal Sponsor, Sind Medical Stores which was accepted by Mr. Younus Billoo.
Overall the event was well attended and an enjoyable evening with a lavish dinner and a vibrant musical performance by Ms. Zoe Viccaji and her band.