FRANCE\\\


With the sixth largest economy in the world and the third in the European Union – possibly rising to second if things go really badly for the UK aſt er Brexit – France is not a country that can be ignored by anyone with global trading ambitions. Think of French exports, and


most people would probably suggest wine or cheese, or perhaps high fashion, but the economy is extremely diversifi ed, embracing industries as diverse as chemicals and high tech, as well as the important agricultural sector. Tourism


is very important


too, as is fi nance – possibly set to become even so if London City fi rms move operations to Paris aſt er Brexit. Lately, though, France has not


been one of the world’s high-fl yers in terms of economic growth. Although it emerged from the Great Recession of 2008-10 relatively unscathed, its performance since then has been pretty sluggish, with annual growth fi gures of under 1% - or even zero. Recently, however, things have been a bit more encouraging and the OECD sees growth returning to a solid 2% or so in 2018-19, thanks to strong external demand and robust business confi dence. Corporate tax cuts and supportive fi nancing conditions will underpin business investment growth. Exports accelerated during


2017 on the back of better global conditions and brisk demand for aircraſt (Toulouse-headquartered Airbus is a major plane


German car forwarder opens Vatry base


German-owned automotive forwarding fi rm Mosolf Group has opened a technical and logistics centre close to Paris-Vatry airport in north-eastern France. The new facility, located at the


ZAC business park situated in Bussy-Lettrée en Champagne, is situated


Barcelona and Paris/Stuttgart axes.


on the Antwerp/ The 10 hectare site will provide


storage for up to 4,000 vehicles and tranship as many as 150,000 by rail and road per year. Vehicle preparation and repairs is also available. The site is capable of further


expansion by 2020 to 40 hectares - which would create storage capacity for about 15,000 vehicles - and, ultimately, to 80ha.


manufacturer). Long deferred reforms of


the labour market should also start


to bear fruit, OECD adds,


although more work needs to be done to improve workforce skills and reduce labour market segmentation. Investment remains robust,


Issue 8 2018 - Freight Business Journal


An economy that cannot be ignored 25


says OECD, but unemployment remains high, at around 8.3%. France shares with the UK a tendency for new jobs to be short-term, insecure aff airs. Skills shortages are also emerging in many sectors. Focus Economics’ report on the French economy however can be


summarised as ‘Could do better’. It describes growth in the fi rst half of the year as “tepid” adding that there is little to support analysts’ predictions of a pick-up through the remainder of the year. However, in September’s


budget, the government did unveil plans to rein in expenditure, slash


taxes and bring the fi scal defi cit down. President Emmanuel Macron,


like all his recent predecessors, faces the dilemma of needing to push through economic reforms but without alienating the country’s population or its powerful trade unions.


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Hutchison Ports’ BEST rail container terminal in Barcelona has launched a new weekly service to Lyon in France. The service will gradually increase in frequency in the coming months. Hutchison Ports-BEST chief


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