He said, "The business environment that Bangladesh has been recently experiencing has prompted me to believe that more foreign businesspeople, also from France, will come forward to invest in your country".

The ambassador made his observation addressing the monthly luncheon meeting of the Foreign Investors Chamber and Industry at Radisson Water Garden Hotel.

Presided over by Ficci President Masih Ul Karim, the meeting was attended by a considerable number of foreign entrepreneurs, who invested in different sectors in Bangladesh.

Expressing satisfaction over his country's investment here, the French envoy said it is also noteworthy that there is neither payment delays nor payment defaults in Bangladesh.

"With such a record, Bangladesh is already considered as an acceptable sustainable risk at least for the French public export insurance company, named Coface," Costilhes said.

Citing an example, the ambassador said this state guarantee institution underwrote last year over $100 million on projects in Bangladesh, mainly in energy and telecommunication sectors.

As far as investments are concerned, France still ranks among the first investors in Bangladesh, except oil and gas sector, with 30 percent of FDI, he said, adding "this situation is bound not to remain stagnant, as we will able to include the oil and gas sector into our global investment targets".

On French investment here, he said the French electronic specialist, Thales Group, is showing interest for the modernisation of the equipment at the Zia International Airport. At the same time, European space and aeronautics giant EADS is also offering a modern alternative for the modernisation of Biman Bangladesh Airlines.

The bilateral trade between France and Bangladesh is regularly increasing by almost 20 percent every year since 2004 and its total volume now reaches almost $1.1billion.

The ambassador also expressed his satisfaction over the trade performance in 2006.

He said, "I am happy to inform you that the French exports in 2006 increased approximately 63 percent and exceeded $120million, which ranks French the 16th supplier of Bangladesh.

During the same period, Bangladesh exports to France reached almost $1billion, he said, adding that France is the 4th client of Bangladeshi goods.

There are some 30 French companies represented in Dhaka, mainly by Bangladeshi businessmen.

"There is indeed a huge scope for increasing the trade flow between Bangladesh, a fast developing country with a high economic and human potential, and France, one of the world's economic power," he said.

He said Danone, the French dairy company in a partnership with Grameen, is developing an ambitious programme to fight malnutrition in the remote and rural areas.

The first plant among the 50 planned in the next ten years will provide dairy products to the children, he said.

In his speech, the Ficci president hopes that French entrepreneurs will invest more in Bangladesh.