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Daily Tribune
21 hours ago
- Business
- Daily Tribune
Gulf, France Forge Innovation Pact
TDT| Manama France and the Gulf countries are entering a new phase of strategic cooperation, one driven by shared innovation, co-production, and human capital, recasting decades-old trade relationships into bold, future-focused economic partnerships. That was the message coming out of Vision Golfe 2025, a high-level forum held at the French Ministry of Economy in Paris, where over 1,200 participants, including 550 Gulf delegates and five ministers, took part in two days of deals, roundtables, and sector-led dialogue on energy, AI, health, and education. From trade to transformation Once defined by oil flows and exports, the France-GCC economic dynamic is now pivoting to deeper collaboration in industrial strategy, digital health, and talent development. France's 17,000 exporters and 2,000 subsidiaries in the Gulf have laid the foundation for a new joint economic playbook. French Minister of Economy Éric Lombard described the moment as 'strategic, human, and forward-looking,' adding, 'I believe our countries can serve each other as platforms to access new markets, especially in a context marked by tension and uncertainty.'
Entrepreneur
2 days ago
- Business
- Entrepreneur
France and the GCC Reframe Their Economic Future at Vision Golfe 2025 in Paris
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Gulf countries are no longer seen merely as consumers, they are now recognized as producers and increasingly, as global innovators, concludes the Vision Golfe 2025. The two-day event hosted more than 1,200 participants, including 550 high-level actors from GCC countries, at the French Ministry of Economy, Finance, and Industrial and Digital Sovereignty to deepen strategic ties and co-develop the economic future of both regions. The forum hosted five ministers, around 80 top-level speakers, over 2,000 formal and informal meetings, and more than 70 partner organizations, solidifying its position as a premier platform for France-GCC economic collaboration. The total trade between France and the GCC reached €21 billion in 2024, supported by a dynamic network of 17,000 French exporters to the Gulf, a sign of growing bilateral momentum and mutual opportunity. Vision Golfe 2025 was opened by Laurent Saint-Martin, French Minister Delegate for Foreign Trade and French Nationals Abroad, Didier Boulogne, Deputy CEO for Export, Business France. Five ministers took part in this year's forum, including Éric Lombard, French Minister of Economy, Finance, and Industrial and Digital Sovereignty, H.E. Ahmad Al-Sayed, Minister of State for Foreign Trade Affairs, Qatar, and H.E. Mohammad Alhawi, Undersecretary of the Minister of Investment, United Arab Emirates. Other key participants included Jean-Yves Le Drian, President of AFALULA, Former French Minister, and Special Envoy of the French President for the Middle East, H.E. Dr Nouf Alnumair, Secretary General of the Ministerial Committee of Health in all Policies, Saudi Arabia, Pascal Cagni, French Ambassador for International Investment, Chairman of Business France, Abeer M. AlAkel, Chief Executive Officer for the Royal Commission for AlUla, Saudi Arabia, Shaima Saleh AlHusseini, Managing Director of Saudi Sports for All Federation, Saudi Arabia. "It is of utmost importance to underscore the need to strengthen the ties between the Gulf countries and France," stated Laurent Saint-Martin, French Minister Delegate for Foreign Trade. "This summit comes at a pivotal moment, one that calls for a strong reminder to the world of the strength of our existing bonds, and above all, of what still lies ahead for us to accomplish together. Vision Golfe serves as a showcase of our respective strengths." "Economic and trade cooperation is a cornerstone of the Qatari-French partnership," said H.E. Ahmad Al-Sayed, Minister of State for Foreign Trade Affairs, Qatar. "Over the past five years, our bilateral trade reached approximately €11 billion. Today, the Qatari market is home to hundreds of French companies operating across multiple sectors, including TotalEnergies, Thales, and other key partners." As economic ties continue to deepen, public health and human development emerged as equally strategic pillars of cooperation. "We live in a world where the demand on the healthcare system is accelerating, driven by aging populations, chronic diseases, and increasing costs of care. By 2027, medical costs are expected to grow 7 to 8% annually," said H.E. Dr Nouf Alnumair. "In Saudi Arabia, we have made a clear strategic choice to look at health not only as a challenge to control, but as a value to protect, and a foundation to build on. France has long been a leader in public health innovation through critical research and digital health solutions, and Saudi Arabia brings its scale and integrated ecosystem to embrace reforms and drive innovation." "We offer a rapidly growing population, a digitally native workforce, a tech-savvy generation, and unwavering political commitment," Alnumair added. With 10 sectoral roundtables and 8 keynote speeches, the 2025 edition zoomed in on forward- looking cooperation in Artificial intelligence and emerging technologies, energy, water, and waste management, health, transport, agriculture, education, luxury, retail, sports, and tourism. A key highlight this year was the launch of a dedicated panel on education and human capital. Across sessions, the issue of talent, how to develop, attract, retain, and empower it, was central. This included talent strategies linked to Vision 2030 agendas, cross-border knowledge and expertise transfer, French academic institutions expanding in the region to support long-term workforce transformation. One such initiative is the partnership between École Polytechnique and Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI) in the United Arab Emirates, a clear signal of France's contribution to the Gulf's knowledge economy. France sees powerful synergies between its France 2030 strategy and the transformative agendas of GCC nations, particularly in renewables, AI, deep tech, industrial innovation, and human capital. These shared priorities offer a strong basis for co-investment, co-production, and long-term joint value creation. "I am convinced that the development of business relationships is a factor of peace and stability" stated Éric Lombard, French Minister of Economy, Finance, and Industrial and Digital Sovereignty. "France is a leading voice within the European Union and a strong defender of building bridges between East and West. I believe our countries can serve each other as platforms to access new markets, especially in a context marked by tension and uncertainty." Beyond trade and diplomacy, social progress and well-being are also emerging as central themes of transformation across the region. "The Federation is a living, breathing example of how inclusion and empowerment is not just a goal but a reality in modern Saudi Arabia" said Shaima Saleh AlHusseini, Managing Director of Saudi Sports for All Federation. "We are not just building a better Saudi Arabia, we are building a healthier, happier Saudi Arabia. Through sports, we are adding an additional pillar to the Kingdom's economy." AlHusseini added. "While the Middle East continues to face significant tension, Business France and its partners remain committed to building bridges, and to building the future" said Didier Boulogne, Deputy CEO for Export at Business France. "We move forward on the basis of trust and mutual respect with our GCC partners: six countries with which France maintains truly exceptional relationships, as demonstrated by our daily work and growing partnerships on the ground." The forum closed with a powerful address by Ludovic Pouille, Director for Economic Diplomacy at the French Ministry for Europe and Foreign Affairs: "This dialogue is not only economic: it's strategic, human, and forward-looking. Together, we are building the conditions for shared resilience and long-term prosperity." France has also reaffirmed its standing as Europe's top destination for foreign direct investment for the sixth consecutive year - a signal of stability, confidence, and opportunity.
Local France
30-04-2025
- Business
- Local France
VAT changes for self-employed in France postponed until 2026
France's 2025 Budget - finally passed in February after much political drama - contained a provision that would have a big impact on France's self-employed people registered under the micro-entrepreneur scheme. The budget proposed a big drop in the VAT threshold, bringing many freelancers, contractors and sole traders into the VAT threshold for the first time. The change proved extremely controversial and was suspended to allow for a review - but on Wednesday the finance minister, Éric Lombard, announced that the suspension will continue and the measure will be decided during debates on the 2026 Budget, which begin in the autumn. Advertisement He told the Assemblée nationale : "We note that the proposed reform does not meet with unanimous approval, either for or against. "The government has taken the decision to suspend the implementation of the reform and let the debate take place calmly within the framework of the Budget for 2026." Anyone registered under the micro-entrepreneur scheme can therefore continue paying VAT at the old rate until the end of the year - if the change is approved it will be included in the 2026 Budget. Under current rules, anyone registered as a micro-entrepreneur benefits from a simplified business regime, as well as a VAT exemption on earnings below €37,500 a year for those selling services, or €85,000 a year for those selling goods. However the 2025 Budget created a single VAT threshold for all businesses of €25,000 – which would have brought many micro entrepreneurs into paying VAT for the first time. Within hours of the budget being passed back in February, it was announced that VAT reform had been 'paused' to allow time for consultation, following a backlash from the small business community. There are around 2.5 million registered micro-entrepreneurs (formerly known as auto entrepreneurs ) in France. Those registered as micro-entrepreneurs include freelancers (such as journalists, translators and tutors), sole traders (including electricians or plumbers) or anyone running a small business such as a shop or gîte - the status is only available to people earning under a certain amount . READ ALSO How much can you earn as a French micro-entrepreneur
Local France
29-04-2025
- Business
- Local France
France proposes extra fees on small parcels from outside EU
French ministers have proposed strengthening border checks and adding a small 'handling fee' to goods purchased online from outside of the EU. The proposal is intended to target goods coming from China - as Europe prepares for the country to increase the number of goods sold in Europe following US tariffs - but would apply to purchases made in any non-EU country. For example, if you were to purchase makeup from a British brand only located in the UK, then it could be subject to additional scrutiny and thus a small handling fee would be added onto the final cost of the product. Advertisement As things stand, 'small parcels' (worth less than €150) that are purchased online and sent by mail to consumers in the EU are below the threshold for customs duties, though you do have to pay value-added tax (VAT). France cannot change the EU customs rules unilaterally, but in 2028, the EU will be able to vote on whether or not to scrap the exemption for customs duties on low-value packages. Until then, the idea, from the finance minister, Éric Lombard, and public accounts minister, Amélie de Montchalin, as discussed during a visit to Roissy-Charles de Gaulle airport on Tuesday, is to add on special handling fees. In 2024, 4.6 billion packages each worth under €150 entered the EU -- more than 145 per second -- with 91 percent originating in China. Some 800 million such packages were shipped to France alone last year, and in addition to making it harder for French retailers to compete, they also drive pollution, Le Parisien reported. How much would the fees be and what do they cover? According to reporting by AFP, the fee would be 'a few euros or a few cents' per item purchased, and it would help cover the cost of checking the incoming billions of small packages each year ordered by EU consumers via platforms such as Chinese-founded firms Temu and Shein. In 2023, BFMTV reported that over 225,000 imported toys were destroyed because they did not meet European safety standards. The French ministers explained that the goal will be for France's consumer affairs body (the DGCCRF) would conduct "360 degree" checks to better verify safety standards and environmental labelling and claims too. The French government also wants to better combat VAT fraud by de-registering imports which fail to submit requested documents. According to Le Parisien, the results of these more in-depth inspections will be available to consumers via the DGCCRF website , as well as on the consumer watchdog site ( Rappel Conso ). Advertisement Who would have to pay the fee? The minister for public accounts said that the handling fee should be paid "by the importers, the platforms, and not consumers". That said, platforms often pass on extra costs to customers, so it is possible consumers would see increased prices when buying small items from the US or UK. When would the change take effect? France hopes such a move could come into force in 2026. The country is also hoping to attract other EU members to the idea to make it harder for platforms to circumvent such a fee. "We can't do this alone, because if we do this alone the flows will go to another country," Finance Minister Eric Lombard said during the same visit to CDG airport. "We're hoping to quickly unite a group of countries that could implement such a measure," added de Montchalin. Foreigners living in France already face extra charges on parcels if the VAT and customs paperwork is not completed correctly. Explained: How to deal with fees for international parcels
Yahoo
22-04-2025
- Business
- Yahoo
France plots £4bn tax grab on 14 million pensioners
Emmanuel Macron's government is plotting a €4.5bn (£3.8bn) stealth tax raid on pensioners as it grapples with a growing pile of debt. The country is considering scrapping 10pc tax relief for up to 14 million pensioners as part of efforts to secure €40bn (£34bn) in savings from 2026. The relief, introduced in 1978, is worth up to €4,123 per household, with a minimum of €422 per retiree. A household whose total state and private pension income totals €30,000, for example, would be exempted from paying tax on €3,000 of the total, leaving them with taxable pension income of €27,000. Éric Lombard, the economy minister, said last week that scrapping the relief was 'on the table' and 'not a taboo'. But the French Confederation of Retirees (CFR) described the proposal as a 'profoundly unfair measure [which] affects a population that has already contributed their whole life to the system'. Scrapping the tax break would save an estimated €4.5bn at a time when the country's budget deficit remains well above the 3pc GDP limit for eurozone nations. France has one of the lowest retirement ages in Europe and one of the highest state pension entitlements relative to the cost of living. But analysts believe that in order to balance the books, the government would need to take an axe to France's generous pension system – which accounts for over a quarter of public spending. Prime Minister François Bayrou admitted last week that France faced a 'mountain of difficulties' managing its public finances. He has previously hinted at plans to water down Mr Macron's controversial state pension reforms. In 2023, the president pushed through legislation that raised the legal age of retirement from 62 to 64 by 2030 in order to help plug France's ballooning deficit – despite bitter resistance from political opponents, unions and the French public. Citizens will need to work for 43 years – up from 42 – to receive a full state pension, which averages around €1,500 (£1,265) a month. By contrast, Britain's state pension age is set to rise from 66 to 67 by 2026. Unions and retirees' associations have denounced the idea of the 10pc tax relief being scrapped. Force Ouvrière, a confederation of unions, said the removal would be a 'new blow to the purchasing power of the most modest'. Thomas Ménagé, an MP and spokesman for Marine Le Pen's far-Right National Rally party, condemned the government's proposal, calling it a 'very bad idea'. He argued that the measure contradicts previous assurances of no tax rises, and predicted that the removal of the allowance would lead to 500,000 retirees being taxed for the first time and 8.5 million seeing their tax contributions rise. However, Gilbert Cette, president of the Pensions Advisory Council, voiced support for the removal of the tax break earlier this year. Patrick Martin, president of Medef, an employers' organisation, described the application of a 'professional expenses' deduction to retirees as an 'illogical' and 'absurd' measure that will cost taxpayers €4.5bn a year. A spokesman for France's economy ministry said: 'This option is part of the considerations underway within the framework of the upcoming finance law.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
