“We are at the end of the first programme and a new one [programme] has to be agreed upon after negotiation between Pakistan and European Union,” he said at Shaukat Piracha show Rubaroo. “We very much support successful negotiations between the two parties.

He was of the view that the bilateral relations between Pakistan and France “have been very much improving in the last 18 months”.

“Pakistan is one of the biggest producers of milk and French companies have expertise in making products from milk. We would like to have practical cooperation in the economic field; associating government and also companies,” he said.

In this regard, the envoy said that he was working with the federal and provincial governments of Pakistan.

There was a need to do more in terms of economic relations, he said, adding: “We are doing what we can as government to convince French companies to invest in Pakistan or to export more to Pakistan. We will also be happy to have Pakistani investment in France.”

The ambassador added that his country was “delighted” that the agreement could finally be reached between Pakistan and the International Monetary Fund. “The temporary agreement means that the relationship between Pakistan and the IMF is on the best possible track,” Ambassador Galey added.

The IMF programme was a “good omen” for the Pakistani economy, he said, adding that it would attract foreign investors.

After the successful completion of the programme, the envoy said that other countries would also show confidence in the Pakistani economy that would provide new opportunities to local businesses.