Brazil covers more than 42% of its energy needs through renewable sources and is ready to share its knowledge with Pakistan, said Ambassador of Brazil Claudio Lins.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Monday, he said they were willing to extend cooperation to Pakistan in the energy sector.

“Brazil has improved per hectare yield through modern technology and double cropping and is also one of the largest exporters of poultry meat.”

Lins said Pakistani businessmen could take advantage of the Brazilian expertise in these sectors. Brazil is the ninth biggest economy of the world with a GDP of $1.7 trillion and the best place for business and investment, the ambassador added.

He invited Pakistan businessmen to work for joint ventures with their Brazilian counterparts and also report their reservations to the Brazilian embassy in Pakistan about tariffs and other issues.

LCCI Senior Vice President Almas Hyder said relations between Brazil and Pakistan were described as friendly and cooperative. He said although traditionally trade figures did not match the actual potential, these were growing gradually. From 2013 to 2015, the two-way trade surged from $227 million to $316 million.

Hyder said the private sector of Pakistan could definitely take advantage of Brazil’s market by exporting various types of consumer goods like readymade garments, fabrics, knitwear, towels, leather and leather products, pharmaceuticals and surgical instruments.

“Brazil offers a huge potential for exports of high-quality footballs. We can also supply agro products including rice, pulses, fruits and vegetables.”

He welcomed the opportunity to learn from Brazilian experts, information regarding production of ethanol (biofuel) from sugarcane and its usage in cars and power generation, which would help Pakistan reduce its dependence on petroleum products.

Former LCCI president Iftikhar Ali Malik called for B2B meetings between businessmen of the two countries, adding tariff issues should be resolved to give a boost to mutual trade.

Honorary Consul of Brazil Mian Hassan Mansha also spoke about the trade and economic relations between the two countries, saying Pakistan’s geographical location was very important and could prove beneficial for the Brazilian investors.