SIALKOT-Ambassador of Brazil in Pakistan Claudio Raja Gabaglia Lins said that his country would soon establish "Pak-Brazil Business Forum" at Islamabad to develop business contacts and boost the bilateral trade ties.

He said that all the stakeholders from both the sides would be put together on the forum. He was addressing to the Sialkot exporters during a meeting at Sialkot Chamber of Commerce and Industry (SCCI).

The Brazilian ambassador said that there was a need to establish "Pak-Brazil Business Forum" which will start formal functioning in Islamabad at the end of April 2018. He sought positive suggestion from SCCI in that regard. He stressed developing face-to-face contacts between the businessmen besides exploring the mutual trade potential between Pakistan and Brazil. He said that all the main companies of Pakistan and Brazil would be participating in Pak-Brazil Business Forum.

He said that several Brazilian companies were showing keen interest in Pakistan's renewable energy development sector. He said Brazil had a big potential to invest in renewable energy development sector of Pakistan. He said that Brazil would also help Pakistan overcome the problem of the climate change. He ambassador assured Sialkot exporters his full cooperation and support to bring Brazilian companies for their direct trade and business with Sialkot companies. He said there were bright opportunities of starting joint ventures between Brazilian and Sialkot-Pakistan companies in different trade fields.

Envoy showed his willingness to establish Brazilian honorary consulate general at Sialkot to facilitate the Sialkot exporters here.

Mr Claudio Raja Gabaglia Lins stressed upon the need of making some effective and positive steps for boosting and strengthening the mutual trade ties between Pakistan and Brazil, inviting the Pakistan business community to divert their business activities to Brazil, besides, participating in all the coming industrial exhibitions and trade fairs being held soon in Brazil.

Brazilian Ambassador vowed to make all out sincere efforts to boost mutual trade ties between Pakistan and Brazil, saying that the time was ripe to further strengthen these mutual trade ties between the two countries. He said that there were bright opportunities of setting up joint ventures between the business community of Sialkot-Pakistan and Brazil in different trade fields.

The ambassador offered some direct trade relations to Sialkot business community to develop business-to-business contacts between the two countries. He pledged full support and technical assistance to ensure easy access of Pakistan business community to international trade markets of Brazil and Europe through Brazil.

Sialkot exporters on the occasion said that dedicated efforts were needed from both the sides to further improve two-way trade. Both the sides must ponder on finding out more trade products to widely diversify and enhance product lines. They said that there was a need for diversification of exports as both the countries have tremendous potential for business communities.

The meeting was told that the total trade volume between the two countries was around US $660 million with balance of trade in favour of Brazil at $605 million. The present trade volume is not reflective of the mutual friendly relations and potential available in the two countries. They said that there were immense possibilities and huge potential of joint ventures and cooperation in various feasible sectors, which might be exploited optimally to improve bilateral trade.

The SCCI president said that both Pakistan and Brazil should facilitate single-country trade exhibitions and encourage frequent exchanges of trade delegations.

Earlier, the Brazilian ambassador visited several leading industrial units in Sialkot, amid tight security. He witnessed internationals standard craftsmanship of Sialkot based artisans and said that the Sialkot exporters have a great potential to explore and capture the international trade markets of Brazil by exporting their world class traditional and non-traditional export products. He also highly hailed the unique export culture of Sialkot.