“Pakistan and
Brazil have moved forward in deepening relations in all fields especially in
commerce and trade. A number of MoUs and Agreements have already been signed
between the two countries. Several are being finalized by both sides” Mohammad
Younus Dagha, Federal Secretary Commerce of Pakistan observed today after
concluding his 2-day official visit to Brazil, says a press release received
here today from Brazil.
Expressing satisfaction at the outcome of his
substantial and meaningful meetings with the high Government officials of
Brazil, Mr. Dagha stated that both sides have looked into ways and means to
increase bilateral trade and investment for the mutual benefit of peoples of
both the countries.
Bilateral trade
between Pakistan and Brazil has increased over the last four years by 100
percent from $225M in 2013-14 to $449M in 2016-17.
Presently, Pakistan has a negative trade balance with Brazil amounting
to -$359M in FY17 with exports of $44.5M and imports of $404M.
Pakistan’s main
exports to Brazil are in articles of apparel, home textiles, surgical goods,
cotton fabrics and yarn, articles of cutlery and sports goods whereas
Pakistan’s main imports are in Soybeans, raw cotton, iron and steel, soybean
oil and machinery.
On 14 December,
in Brasilia, Secretary General Marcos Galvao warmly received Secretary Commerce
at the Brazilian Foreign Office. Terming the visit of Secretary Commerce as
“timely”, the Secretary General hoped for frequent high level interaction
between the two countries. Both sides reviewed bilateral relations in all
fields especially in the trade and investment domains. Referring to the
on-going cooperation between the two friendly countries, the need for early
finalization of bilateral agreements such as Agreement on Technical Cooperation
and establishment of Joint Commission was emphasized. Mr. Dagha also underlined
the importance of early start of negotiation on Pakistan’s PTA with MERCOSUR.
Secretary General stated that MERCOSUR partners could appropriately engage
Pakistan as the Forum was now looking forward to interact with countries
outside South America to promote trade and investment relations.
In his meeting
with Undersecretary General Ambassador Santiago Mourao, the two sides took
stock of matters concerning technical cooperation, trade and investment while
exploring ways and means to further deepen cooperation between the two
countries. The need to have productive and synergized interaction in providing
a framework to private sector for enhancing bilateral trade and economic
relations was emphasized.
During meeting
with his counterpart from the Brazilian Ministry of Mines and Energy, Paulo
Pedrosa, Pakistan’s Commerce Secretary offered profitable and secured investment
to Brazilian businessmen in Pakistan. Various investment opportunities
available in the energy sector, ranging from generation, transmission to
exploitation of sources of clean renewable energy were also discussed. Both
sides also agreed to collaborate closely in mines and energy sectors; learn
from each other’s experiences; share technological expertise; and, explore
possibility of investment in relevant sectors.
Pakistan’s
Ambassador to Brazil His Excellency Mr. Najam us Saqib accompanied the Secretary
Commerce in all his official engagements with the high Officials of the
Government of Brazil.
The
first ever official visit of Secretary Commerce of Pakistan to Brazil provided
an opportunity for both countries to discuss and review bilateral relations in
all fields.