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KARACHI: The Ambassador of Federative Republic of Brazil, Olyntho Vieira, has stressed that instead of having online meetings the business communities of Brazil and Pakistan should look into the possibility of holding face-to-face interactions which would certainly help in enhancing trade ties.

“The best way of doing business is to regularly meet each other and directly examine and feel the goods being produced by Brazil and Pakistan,” he said while exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI).

The Brazilian ambassador, who was on his first visit to Karachi after assuming charge of his office, said that although his job was to promote Brazilian exports to Pakistan but he would like to see enhanced trade from both sides as improved trade from one side was not good business.

He was of the view that Pakistan and Brazil were good in producing textile products; hence, the businessmen of both countries associated with this sector can join hands to become a big force.

This collaboration could prove favourable for Brazilian businessmen who may get into some kind of an arrangement with Pakistani counterparts for producing Brazilian goods in Pakistan and supplying them to the Asian markets which would bring down the shipment cost, he opined, adding that Brazil can offer many good quality products at good prices to Pakistan as the country has been producing almost everything from food to aeroplanes.

He said, “Pakistan has many competitive advantages that we could benefit from and we can work together in different sectors of the economy, particularly the IT sector, which has developed rapidly in Pakistan.

Brazilian envoy extended full support and cooperation to the business and industrial community of Karachi and assured to link them with relevant Brazilian businessmen and industrialists.

President KCCI Muhammad Tariq Yousuf, while welcoming the Brazilian Ambassador, expressed deep concerns over Pakistan’s extremely low export share of just 0.3 percent in the Brazilian market. He said there was a need to look into the possibility of exporting sports goods, surgical and pharmaceutical goods and textile products, etc., to Brazil so that the meagre trade volume could be improved.

He also stressed the need for having bilateral trade agreements between Pakistan and Brazil as no such agreement presently exists. If both countries could agree upon any mutually beneficial preferential treatment or a duty-free regime, this would prove favourable in furthering trade relations between the two countries.

Referring to Mercosur agreement signed between Brazil, Argentina, Paraguay and Uruguay for ambitious, balanced and comprehensive trade, President KCCI stated that Brazil should look into the possibility of incorporating Pakistan into Mercosur Agreement or any other similar arrangement to improve the existing trade ties not only with Brazil but also with other neighbouring countries.

He said that as Brazil has been exporting substantial products to China and holds excellent trade ties; it must also become part of China-Pakistan Economic Corridor (CPEC).

He also stressed the need for dealing with the communication gap between the business communities of Pakistan and Brazil by introducing some kind of an effective business platform wherein the business communities could meet, learn about each other and regularly exchange information through closer interaction.

Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Former President Majyd Aziz, Honorary Consul General of Brazil Omer Adil Jaffer, Deputy Head of Mission Embassy of Brazil Fabio Maneghatti and KCCI Managing Committee members were also present.

Copyright Business Recorder, 2022

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