Tuesday , 24 October 2017
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Brazil envoy says Pakistan investment-friendly

KARACHI: The Federative Republic of Brazil Ambassador to Pakistan Claudio Lins has said that ‘misinformation and false information’ about the safety and security situation discourages Brazilian investors from visiting or investing in Pakistan, which can be addressed by exchanging more trade missions.

Speaking during his visit to the Karachi Chamber of Commerce and Industry (KCCI), he said, “If Brazilian investors can invest in India and China then why not Pakistan.”

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Lins said negative news about Pakistan forces investors to stay away, keeping them unaware of the fact that many foreign companies were successfully doing business in Pakistan.

“We have to cope with it by exchanging trade delegations and enhancing face-to-face interactions,” he added.

The Brazilian ambassador said that the Pakistani economy was stabilising and with the completion of the China-Pakistan Economic Corridor (CPEC), many opportunities will emerge for foreign investors from all around the world, including Brazil.

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

KCCI President Shamim Ahmed Firpo said that the bilateral trade relations between Pakistan and Brazil were based on trade of various commodities. During 2015-16, Pakistan’s exports to Brazil stood at $46 million and its imports increased drastically to $206 million, indicating a trade balance in favour of Brazil.

He was of the opinion that there was huge potential to enhance bilateral trade relations between Brazil and Pakistan as possibilities of joint ventures in various feasible sectors including Halal food, information technology and poultry exist in abundance for both the countries.

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Firpo said the KCCI wants to promote business, mutual understanding and friendly relations between the business communities of the two countries.

“We also want to promote Brazilian investment in Pakistan and do everything for the development of Pakistan-Brazilian business cooperation,” he added.

Courtesy : Express Tribune



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