France is seeking new investments in Bangladesh that could help the impoverished nation diversify after protective quotas on its key textiles industry expire next month, a French minister said Sunday. Readymade garments are Bangladesh's main export item, but the South Asian country has been actively soliciting investment in other industries to make up the shortfall once the quotas, in place since the 1960s, come to an end under World Trade Organization rules. "We have to look at other areas for investment," French Foreign Trade Minister Francois Loos told a news conference Sunday, as he ended a two-day visit to the Bangladeshi capital, Dhaka. The minister said French businesses were interested in investing more in gas and oil refineries, pharmaceuticals, water treatment plants and other infrastructure. Two weeks ago a French business delegation also came to Bangladesh to explore new areas of cooperation. France is now one of the largest markets for Bangladesh's readymade garments _ importing nearly ¤600 million (US$793 million) worth last year. French companies have also invested nearly ¤280 million (US$370 million) in Bangladesh, mostly in garments, telecommunications and a cement factory.
