French President Nicolas Sarkozy on Tuesday urged India to open up its markets and set up a long-term partnership with France in the changed global economic scenario, which would benefit both nations.
“I have not come to India to find new clients, but to offer you a true partnership. Perhaps we believe in your future more than you do.
“Perhaps when we see India from the outside, we are more impressed than when you look at it from the inside,” said Mr. Sarkozy while addressing the India-France economic conference on “Together to build a sustainable future,'' jointly organised by the Mouvement Des Enterprises de France International (MEDEFI), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII) here.
Mr. Sarkozy said that over-regulation of currency was unhealthy for global economy. Saying that the Bretton Woods system (under this system the central banks had the task of maintaining fixed exchange rates between their currencies and the U.S. dollar) was irrelevant today, he urged China and other nations to free the value of their currencies, which would be determined by the market.
An MoU has been signed between the CII and the MEDEFI to strengthen communication and cooperation between the two key organisations in the field of business information, export-import and related statistics information, cooperation in bilateral trade and investment technology and other commercial activities for the benefit of all their members.
Christine Lagarde, Minister of Economic, Finance and Industry, Republic of France, took the occasion to put the world economic crisis in focus when she said, “We are aware that France is not going to find the solution by herself, but we are humble enough to be open for consultation from everyone possible.
“We welcome joint efforts and recognise that coordination among all will be crucial. The G-20 has to learn from each other a great deal. Between India and France, we can exchange a lot and benefit from each others knowledge.''
Honour for Parek
Mrs. Christine Lagarde also conferred the Knight in the order of Legion d' Honneur, the France's highest honour, to HDFC Chairman Deepak Parekh for his work in “bringing the businesses of the two countries together.”
