ISLAMABAD, June 4 (Xinhua) -- Pakistan and Brazil have established the Pakistan-Brazil Business Forum (PBBF) to further fortify trade and business ties between the two countries.

According to a statement issued on Monday, Brazilian Ambassador to Pakistan Claudio Raja Gabaglia Lins and President of the Federation of Pakistan Chambers of Commerce and Industry Ghazanfar Bilour announced the establishment at a special ceremony held in Islamabad.

According to the statement, the PBBF will be headquartered in the Pakistan's capital and will have its sub-offices located in other parts of the country as well as in Brazil.

Speaking at the ceremony, the Brazilian ambassador, who will be co-chairman of the PBBF along with Ghazanfar Bilour, said that the new organization will focus on boosting bilateral trade between Pakistan and Brazil through various initiatives.

"We want to kick-start economic activity, generate employment, improve taxation and remove unnecessary hurdles being faced by the importers and exporters from both the countries," he added.

Ghazanfar Bilour said, "We will play a meaningful role in suggesting practical solutions worthy of serious consideration at policy-making level to accelerate the business activities as the current level of trade between the two countries is dismal."