MULTAN, Feb 6: French ambassador Regis de Belenet said on Tuesday a leading hotel business group in the European Union would invest in Pakistan to build more than 10 hotels in partnership with other investors.

The ambassador was addressing a ceremony at the Multan Chamber of Commerce and Industry.

He said Accor was a leading hotel group in the EU and one of the leading in the world.

While another French company dealing in consumer products, CARREFOUR, would also invest to open its outlets in cities like Lahore, Karachi and Islamabad.

Moreover, a company that manufactured Renault cars was also expected to invest in automobile sector here, however, the matter was still under discussion and a final decision was yet to be taken, he said.

He said France and Pakistan enjoyed cordial relationship and hoped that the trade ties between the two countries would strengthen with the passage of time. “We have possibilities to do better.”

He said France was offering assistance to Pakistan in many sectors and “it will remain a meaningful supplier of defence equipment to Pakistan.”

Later, he said the European Union countries would send observers to Pakistan to monitor the forthcoming general elections.

He said Pakistani authorities had asked the EU to send observers and the proposal was received well.

He said France was also extending assistance to Pakistan in establishing universities of engineering and technology, adding that under a programme with the Higher Education Commission (HEC), 200 students from Pakistan got PhD training from French institutions annually.

MCCI president said exports from Pakistan to France had increased compared to imports and the trade balance of $114.59 million was in favour of Pakistan. —APP