01 December 2004	Wednesday	18 Shawwal 1425

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SAO PAULO, Nov 30: President Musharraf promised all-out facilitation to Brazilian entrepreneurs for business ventures in Pakistan, stressing that the country offered a safe and legally protected environment on the back of a fast-growing economy.

Addressing a meeting of industrialists and traders, organized by Sao Paulo Chamber of Industry in the Brazilian commercial capital, the president said Pakistan was not only important for its business-friendly regime but also because of its key regional location.

He brushed off negative travel advisories as contrary to ground realities, saying perceptions were far from ground realities in Pakistan. "There is peace and harmony in Pakistan and it will keep improving.

Brazilian entrepreneurs should visit Pakistan and see for themselves a conducive environment that has been put in place," he emphasised. "It is the private sectors of the two countries which take economic ties to a new level."

The president listed a number of initiatives followed consistently for an investor-friendly regime and said the international credit rating agencies had improved Pakistan's standing.

"The government believes in deregulation and privatization and the country offers a very liberal and legally protected environment. Finance and banking sectors are very stable," he said.

President Musharraf saw tremendous scope for cooperation in the areas of textiles, telecommunications, Information Technology, sports, surgical goods, agro-based industry and livestock, mining and oil and gas exploration, especially off shore exploration.

Pakistan, he said, was a strong market of 150 million people and was located in the middle of Central Asia, India and the Gulf. He said the interaction between the three regions "takes place only through Pakistan".

The western Chinese region has the closest access to the sea to India and natural gas for India from Central Asian Republics, Iran or Qatar can only pass through Pakistan.

In this context, the president said Pakistan was developing its infrastructure for linkages with Central Asian Republics. A new port at Gwadar was nearing completion and road network was being improved, he said.

The GDP in Pakistan grew by 6.4 per cent last year, he further said, and expressed the hope that the country would touch 7 per cent growth rate this year. He said there was tremendous scope for benefits from trade, investment and joint ventures between Pakistan and Brazil.

Investment, trade and commercial activity were the main sources for job creation and poverty alleviation, which was one of the strategic directions of the government. He said doing trade and investment in Pakistan should promote the common goal of addressing poverty and hunger. -APP