ISLAMABAD : Brazilian Embassy formally issued first five-year multiple entry visa to leading Pakistani businessmen to promote bilateral trade and economic ties between the two countries. The Ambassador of Brazil to Pakistan Alfredo Leoni, handed over the passport to Jamil Ahmed CEO of Perfect Hometz company who got first ever five-year multiple entry visa here at a simple ceremony held at Brazilian Embassy. MNA, Rana Aftab said that introduction of five-year multiple entry visa for Pakistani businessmen will improve bilateral trade.

He said the strong diplomatic and political ties of Pakistan and Brazil, should be transformed to improve bilateral trade.

He said the business community of the two countries should get full benefit from the available potential to promote economic activities.

The Brazilian ambassador Alfredo Leoni speaking on this occasion said the new visa policy will encourage frequent movement of business community in the two countries that will enhance and strengthen bilateral trade which has almost reached to US dollars 285 million.

He said the new visa policy was confirmed after the exchange of notes after a comprehensive discussion by the representatives of ministry of foreign affairs of both the countries.

The ambassador said, Brazil, the 6th largest economy of the world, is the largest commercial partner of Pakistan in Latin America and the balance of trade between the two countries reached almost US dollars 285 million in 2012.

He said the export from Pakistan to Brazil increased by more than 100 percent from the year 2009 to 2012, from US dollars 44 million to US dollars 92 million.

Major Brazilian exports to Pakistan include cotton, fuel pipes, plastic, iron and steel, tobacco, pulp, among other while major Pakistani exports to Brazil include textile items, surgical goods, soccer balls and manicure instruments.

The ambassador said there is great potential to increase bilateral trade and expressed the hope that it will cross US dollars one billion mark very soon,

Highlighting the potential markets for the bilateral trade, the ambassador said, the products like poultry meat, agricultural machinery, orange juice, tea, spices, coffee, auto parts, textile and garments, leather goods, marble and granites, sports gear, fans and wood handicraft.

He said Pakistan and Brazil could also expand their cooperation in different fields through joint ventures and joint-research, such as biotechnology, pharmaceutical, poultry production, telecommunications and bio-energy.

The ambassador said Brazilian companies are also interested to share their experience in various energy production projects.

He said there has also been progress between the two countries in cooperation in agriculture sector adding that Brazil could share its experience in improving sugar cane crop.

Head of Consular Section Gustavo Carneiro and Head of Press and Commercial Section Helena Jornada were also present on this occasion.

Jamil Ahmed said it is manifestation of the hard work done by the Brazilian ambassador who is actively engaged to promote bilateral trade besides improving political and diplomatic ties. He said with the introduction of five-year multiple entry visas for Pakistani businessmen to strengthen the bilateral ties.