Brazilian Ambassador to Pakistan Fausto M. Godoy has urged the private sector of Pakistan to come forward in tapping the marvellous opportunities of mutual trade between Brazil and Pakistan. "In spite of public sector economic activities, the private sector has played a good role in increasing the trade volume between the two friendly countries", Brazilian envoy said here on Wednesday during his visit to Rawalpindi Chamber of Commerce and Industry (RCCI). On his arrival Brazilian envoy was welcomed by RCCI Senior Vice President Jalil Ahmed Malik and other senior executives and members of the chamber.
Fausto said since Brazil was the fifth largest country both in terms of territory and population, and 14th largest economy of the world, there were lot of opportunities prevailing in Brazil for Pakistani traders, exporters and industrialists in various sectors ranging from agriculture to technology sharing.
The Brazilian ambassador invited the Pak traders to go on the fact-finding mission to Brazil to see the wonderful quality and excellence of Brazilian products and machinery in poultry, sugarcane, automobile spare parts, machinery and industrial chemicals.
Fausto assured the businessmen to take the issue with relevant authorities but said the greater trade volume and lowering the tariffs would help tackle that issue.
He also agreed that joint ventures could also be carried out in automobile and marble sectors.
Earlier, in his welcome address RCCI Senior Vice President Jalil Ahmed Malik said Pakistan was a business potential country and was on its way to economic stability and progress in trade, industrial and other economy related sectors. "It is fact that the political and economic relations of the two countries are more than half a century old and based on mutual respect and good friendship, but the trade volume between the two countries could not be translated into desired level", he added.
He, however, said a healthy trend was observed in 2003-04 when the trade volume between the two countries reached 28.538 million dollars with Pak exports of 5.021 million dollars and imports of 33.558 million dollars. The major benefit of the trade went to Brazil, he observed.
In the detailed interactive session with traders and industrialists of the region and Brazilian ambassador it was observed there was a great potential of the trade between the two countries as Pakistan could enhance its exports to Brazil.
The meeting found that fish, mushrooms, textile yarn and fabrics, apparel and cloth accessories, footwear, leather, cotton waste, sports goods and surgical instruments etc were the products, which could find space in Brazilian market.
On the other hand, Brazil's high-speed diesel oil, soybean oil, organic chemicals, pharmaceutical products, power generating machinery and transport vehicles could reach Pakistan.
"In this respect the RCCI offers its services in helping to find the right partners for the counterparts from Brazil in Pakistan", RCCI Senior Vice-President Jalil Malik said.
The Pak traders on this occasion took exception of the high freight charges on imports from Brazil and demanded subsidy to compensate freight charges loss.