DOHA: Led by deepening trade ties and rising number of French companies in Qatar, the volume of trade between Qatar and France has jumped 20 percent in 2012 compared to 2011, Jean-Christophe Peaucelle (pictured), French Ambassador to Qatar, told reporters here recently.
“The current trade volume between France and Qatar has increased by nearly 20 percent in 2012 over 2011. But when you have the trade figures between France and Qatar you have to be careful and also take into account the ‘Airbus Effect’. Whenever you have a delivery for Airbus aircraft, the figures jump exponentially,” said Peaucelle.
Exact figures of bilateral trade were not available with the Ambassador. However, according to the latest statistics available, the volume amounted to more than QR9.1bn in 2011. The value of Qatari exports to France was estimated at QR6.4bn led by distillation products and mineral fuels, while imports amounted to about QR2.7bn.
The presence of French companies can be felt in all major sectors of the Qatari economy. Currently, there are over 100 French companies that have already established their businesses in Qatar and there are many others that are operating from outside.
“The size of the French community in Qatar is continuously growing. Currently, there are more than 3,600 registered French nationals and the number is expected to grow to 5,000 in the days to come,” added the French envoy.
“Qatar-French relationship is not just about trade and gas supply. It is more global, comprehensive and deep-rooted. You have to also take into account the Qatari investments in France that constitute an important part of our relationship. The investments were not philanthropy, but part of well-thought out economic decisions made for mutual benefit.”
Peaucelle was speaking with reporters at his residence on the occasion of a special dinner organized by Atout France, France Tourism Development Agency, in the presence of Qatari and French businessmen and eminent professionals from the tourism and hotel industry. Also present were diplomats including Swiss ambassador Martin Aeschbacher, Turkish ambassador, H Emre Yunt and Palestinian ambassador Munir Ghannam and others.
France, the second largest economy of Europe, with a relatively small rate of domestic production of natural gas, imports the vast majority of LNG (46.2 billion cubic metres, 2010) from Algeria, Nigeria, Norway, Russia and the Netherlands and source very little from Qatar, the world’s largest LNG exporter.
Asked if France, under its diversified energy portfolio, has plans to source more gas from Qatar, he said: “We did import gas from Qatar in the past, but this year it was very little.” However, the ambassador added that the volume “may increase in future, but is not a government decision; it is the gas companies who decide.”
France is Qatar’s second largest foreign investment destination with Euros 1.5bn (QR7.14bn). The investments have been made in a wide range of sectors including energy (TOTAL), hospitality (Peninsula Hotel), fashion and luxury brands (LVMH group) and in many other French leading brands.
Replying to questions about European economic crisis and low rate of returns on investments, he said: “I admit that the European economies are going through a difficult period, but this is part of an economic cycle which has ups and downs. But European authorities and the French government have taken a lot of courageous decisions to reform, and I am confident about it.
Earlier, Qatar and France have signed a number of agreements, and the ambassador hinted for more agreements to be inked between the two countries to expand bilateral relations.
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