During a seminar on Brazil-China relations in Sao Paulo on Wednesday (Nov.29, LIDE (Brazilian Business Leaders Group) and the Chinese Council for the Promotion of International Trade (CCPIT) signed a cooperation agreement to increase Brazilian exports to China.
CCPIT’S vice-chairman, Chen Zhou, said that China wants to discover new potential for trade with Brazil, in addition to the main products his country currently imports, such as soy beans, oil and minerals.
The agreement includes partnerships in the productive chain, to reduce logistical costs, one of the current obstacles to Brazilian industrial development and agribusiness, as well as conducting seminars to facilitate business exchange.
Chen Zhou said that 200 Chinese companies have investments in Brazil. China’s Consul General in São Paulo, Chen Peijie, estimated that Chinese investment in Brazil had recorded a growth of 28.4% in the first three quarters of this year compared to the same period of 2016, to reach US$14 billion.