‘Pakistan can play important role in global economy by becoming part of BRICs’

Islamabad : Pakistan can play an important role in the global economy by becoming a part of the international multilateral forum BRICS, said Ambassador of Brazil to Pakistan, Olyntho Vieira, says a press release.

Pakistan is a big market in terms of its population which can play an important role in BRICS and promote trade with these countries, the ambassador said. Ambassador of Brazil to Pakistan, Olyntho Vieira said this on Wednesday in a call on meeting with President Islamabad Chamber of Commerce and Industry (ICCI) Ahsan Zafar Bakhtawari and Secretary General UBG, FPCCI Zafar Bakhtawri.

The Brazilian ambassador said that the BRICs have an important role in the future global economy and with it, South-South cooperation will also grow and international multilateralism will be strengthened. He said that Pakistan is the largest market in terms of population in the Islamic world, which is important because of its geo- Strategic location and there is a need to strengthen the trade relations between Brazil and Pakistan. He said that Pakistan and Brazil have vast trade and cooperation opportunities in technology and fruits, especially mango and Citrus, which need to be expanded further.

Brazilian Envoy said that Brazil is part of various economic and trade integration forums in the world and South, South Cooperation are very important from which Pakistan can take full benefits. The Ambassador said that between Pakistan and Brazil there is a mutual trade of $45 million in which Brazil is in trade surplus. He said that Brazil is exporting soybeans and cotton to Pakistan, while Pakistan is exporting surgical equipment, textiles and fruits to Brazil.

He said that in the same way, Brazil is a big market with which Pakistan can be connected with the market of South America by being economically connected.

Meanwhile, Islamabad Chamber of Commerce and Industry ,President Ahsan Zafar Bakhtawari said that the signing of Free Trade Agreement (FTA) between Pakistan and Brazil will promote mutual trade in both countries and both countries will be able to benefit from each other’s markets.

He said that the role of the business community is very important for the promotion of mutual trade relations between Pakistan and Brazil and ICCI is ready to play its full role in this regard.