France is now the second destination for Qatari investments even as trade volume between the two countries rose by 20% to reach almost €3bn in 2015, French ambassador Eric Chevallier has said.
The ambassador made the statement during the “Second Investment Majiles,” organised yesterday by the Qatari Businessmen Association (QBA) at the Four Seasons Hotel in co-operation with the French embassy in Qatar and the Qatari-French Business Club.
While France has increased its export of aircraft to Qatar, Chevallier stressed that aircraft export to the country is “only one key element of the commercial dynamics” between the two countries.
“When you look at the commercial dynamics, airplanes are important but they are not the only area where the progress is seen. There are many other sectors from luxury, equipment, and a lot of others. And even without the airplanes, trade volume increased by more than 20% last year compared to 2014.
“What is interesting is that France is now the second partner of Qatar for commercial activities here, and at the same time, we are the second destination of Qatari investments. The level is very high but we want to continue this,” Chevallier told reporters on the sidelines of the event.
During the event, Chevallier accompanied the Greater Paris Investment Agency and a business delegation led by David Douillet, former French sports minister and vice president of the Paris Region Regional Council (Région Île-de-France) in charge of International Action and Tourism.
He said aside from real estate, the French delegation is offering investment opportunities in various fields, including innovative startups, development of stadiums, hospitality, healthcare, and new technologies, among others.
In the wake of the first investment majiles held last year, Chevallier told Gulf Times that “there were several projects achieved in terms of Qatari investments in France,” but declined to provide further details.
The ambassador also noted that the number of French companies in Qatar have crossed the 100 mark.
“But if you add all the joint ventures between the two countries, there are now more than 250 French companies in Qatar that are either direct or through joint ventures, according to the Ministry of Economy and Commerce,” Chevallier said.
Greater Paris Investment Agency managing director Chiara Corazza said the agency wants to infuse Qatari investments to a “multi-specialised global city” as part of the “Grand Paris” project.
Corazza said Qataris “can take advantage” of the opportunities, citing state-backed investments worth €50bn allotted for the “Grand Paris” project (€36bn in public transportation infrastructure alone).
She said the project comprises seven major business clusters under development, linked by a 200km network infrastructure currently under construction (2010 to 2025), and is expected to generate 1mn additional jobs.