ISLAMABAD - Ambassador of Brazil Claudio Lins on Sunday said that Pakistan and Brazil had huge potential to boost trade and business ties and urged for enhancing the trade volume between both the countries.

“Pakistan's exports to Brazil are just $71 million, which are very low considering that Brazil is the seventh largest economy in the world and both the countries have a huge potential for increasing cooperation in the fields of sports goods, medical instruments, food items, fertilisers, fruits and vegetables cotton, textile and dairy sector,” said Claudio Lins, while addressing the discussion, organised by English Speaking Union (ESU) Pakistan along with President of ESU, Khalid Malik, here.

Diplomats, academicians, lawyers and well-known journalists attended the discussion.

The Ambassador of Brazil said that China- Pakistan Economic Corridor (CPEC) was considered the project of huge significance for connecting Pakistan with world market, including European Union and other markets of developed countries.

The ambassador further said that the Pakistani economy was stabilising and with the completion of the CPEC, many opportunities for foreign investors will emerge from all around the world, including Brazil.

He said that Brazilian embassy in Pakistan was ready to facilitate Pakistani businessmen in this regard, and also called for removing the communication gap to give a quantum jump to the mutual trade.

Touching upon the renewable energy sector of Brazil, Lins said that Pakistan could benefit from Brazil's expertise and the technology being used in the renewable energy sector. "Brazilian embassy is at your disposal if any Pakistani company is looking for a right partner in the renewable energy sector," said the envoy.

While discussing the areas of cooperation between the two countries, Claudio Lins, said that Brazil met more than 42 percent of its energy needs through renewable sources.

He added that his country was ready to share knowledge in this regard with Pakistan.

"We are ready to help Pakistan to meet its energy needs via renewable energy resources, like wind, solar and coal" he added.

He said that his country had improved its per hector yield with the assistance of modern technology and double cropping, further adding that Brazil was also one of the largest exporters of poultry meat.

"Pakistani businessmen can benefit from Brazilian expertise in these sectors," he added, further asserting that Brazil was the ninth biggest economy in the world with a GDP of $1.7 trillion and also the best venue for developing businesses and investment.

He said there were vast opportunities of trade, cultural exchange and mutual cooperation between both the countries. “Brazil-Pakistan Business Council was established to enhance the trade volume between the two countries,” he said.

Claudio Raja Gabaglia Lins said Brazil believed in peace and international cooperation and it would explore more ways of possible cooperation with Pakistan in diversified fields.

He said Pakistan and Brazil had been negotiating for setting up of a Pak-Brazil Chamber of Commerce since long and desired that its establishment should be expedited for promoting business linkages and improving trade between the two countries.

On the occasion, President, English Speaking Union of Pakistan Khalid Malik said that Pakistan and Brazil had strong diplomatic ties rooted in history.

“Both countries have lot of commonalities to come closer through trade and business also,” he said, and added, “Both the countries require more efforts to boost business and trade relations.