![]() "France shares an alliance with Washington, whereas its China policy is articulated on two legs: one of dialogue and cooperation where it is possible, and one of systemic rivalry and opposition where it has to be," Julienne said. In a way, this is a way for Paris not to leave China acting alone in Africa," Marc Julienne, the head of China Research at the Center for Asian Studies of the French Institute of International Relations (IFRI), told DW. "Paris and Beijing have been discussing cooperation on development projects in third countries for years. France could be onto something," said Martin Jacques, a British journalist, academic and China watcher. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Old wine, new bottles? Enterprises from both countries are complementary, and have a huge potential for third-party market cooperation."īerlin checking foreign bids for companies The list includes projects in infrastructure, environmental protection and new energy, China's Foreign Ministry spokesperson, Wang Wenbin, said in a statement.Ĭhina's senior planning body, the National Development and Reform Commission (NDRC), said in a press release that "French enterprises have a unique advantage in advanced manufacturing, environmental protection and engineering construction, while Chinese firms have accumulated rich experience in basic infrastructure construction, energy, equipment building and the internet. Proponents hope that it will make Chinese foreign investments more transparent, while skeptics suggest that it may simply provide an optical boost for Beijing in the face of growing conflict with the United States.įollowing the recent virtual meeting between French President Emmanuel Macron and his Chinese counterpart, Xi Jinping, the two countries signed the Fourth Round China-France Third-Party Market Cooperation Pilot Project List in mid-February. This represents a 39% year-on-year increase over 2020 and an 8% increase over the pre-pandemic level in 2019.Paris and Beijing plan to jointly build seven infrastructure projects worth over $1.7 billion ($1.9 billion) in Africa, Southeast Asia and Eastern Europe, making France the first country to establish the third-party market intergovernmental cooperation mechanism with China. One year after the economic shock caused by the Covid-19 pandemic, bilateral trade is showing a clear recovery, as evidenced by the volume of trade to the tune of €12.6 billion between the two countries. This progression could be strengthened over the next few years due to the increase in the stock of French FDI in India, which rose from €9.8 billion in 2020 to 11 billion in 2021 (+12%) according to the figures published in the latest Balance of Payments Report by the Banque de France. In 2021, India ranked 15th among France’s trade partners, rising three places. A few areas in which their activity is particularly marked are: aeronautics, renewable energy, transport, urban development and sustainable cities, digital technology and nuclear energy. In terms of sectors, the presence of French companies is very diversified. at a level comparable to 2018.įrench companies are present throughout India and are mainly active in the country’s major metropolises (Delhi-NCR, Mumbai/Pune, Bengaluru, Chennai, Hyderabad, Ahmedabad and Kolkata). ![]() In this context, the trade deficit narrowed in 2020 to France’s detriment, reaching €574 million (compared to €899 million a year earlier), i.e. French exports to India fell from €5.4 billion to €4.2 billion (-21.4% y-o-y), while imports fell from €6.3 billion to €4.8 billion (-23.5%). This figure rose swiftly over the past few years, quadrupling since the financial crisis.Īs a result of the public health crisis that hampered economic activity, the volume of bilateral trade between India and France fell significantly in 2020 to €9 billion, a year-on-year reduction of 23.1%. ![]() The total French investment stock in India rose to €10 billion by the end of 2020. Today, more than 600 French subsidiaries with over 1000 offices and facilities from a wide spectrum of sectors are present in India and employ a workforce of around 4,00,000 persons. More than the volume of bilateral trade, the dynamism of Indo-French economic relations springs from the establishment of French companies in India. I - History of the bilateral relation during 2010-2020īilateral trade practically doubled in a span of ten years, touching the 12-billion-euro mark before the pandemic. ![]()
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