ISLAMABAD (APP): Pakistan and Brazil have great potential to enhance cooperation in mining, energy, agriculture besides other sectors, President, Brazil-Pakistan Chamber of Commerce and Industry (BPCCI), Munawar Iqbal said on Thursday.
He vowed that BPCCI would work for promoting bilateral trade between the two countries by bringing private sectors of both countries even closer.
While expressing these views during his visit to Islamabad Chamber of Commerce and Industry (ICCI), he said, Brazil met more than 42 per cent of its energy needs through renewable sources and it could share its knowledge and expertise with Pakistan for overcoming its energy shortage.
He said Brazil had improved its agriculture productivity through modern technology and Pakistan could modernize its agriculture sector by enhancing cooperation with Brazil.
Munawar Iqbal said, the main focus of BPCCI was to promote linkages between business associations of both countries to explore new avenues of mutual cooperation in various areas.
He said, BPCCI will organize trade missions in Pakistan and Brazil and hold conferences, seminars and meetings to exchange business and economic related information between the entrepreneurs of both countries.
He said BPCCI in collaboration with ICCI would step up efforts for strengthening business linkages between the two countries to realize available potential of two-way trade and economic relations between Brazil and Pakistan.
Speaking at the occasion, Sheikh Pervez Ahmed Senior Vice President and Sheikh Abdul Waheed Vice President, Islamabad Chamber of Commerce and Industry said, Pak-Brazil bilateral trade was still hovering around US$ 300 million, which was far less than the actual potential of both countries.
They said both countries should encourage frequent exchange of trade delegations and organizing single country exhibitions on reciprocal basis to promote bilateral trade up to real potential.
They said many Pakistan products including marble, textile products, leather and leather products, pharmaceutical, surgical instruments and agro products including rice, pulses, fruits and vegetables could find good market in Brazil and stressed that BPCCI should cooperate in enhancing Pakistan's exports to Brazil.
They said that Brazilian expertise in mining, information technology, dairy farming, livestock, renewable energy and infrastructure sectors was much needed in Pakistan.
They said both countries should focus on resolving tariff issues to give boost to the mutual trade.
They said, Pakistan's geographical location was very important and Brazilian investors should focus on Pakistan for investment and joint ventures.
It was agreed that ICCI would work for establishing Pak-Brazil Chamber of Commerce and Industry chapter in Pakistan to establish strong connectivity between the private sectors of both countries in order to further improve bilateral trade and economic relations between Pakistan and Brazil.