Home BRICS Chinese President Wants To Deepen Trade Ties With Brazil

Chinese President Wants To Deepen Trade Ties With Brazil

Since 2009, China has been Brazil's main trading partner and important importer of agribusiness products

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China’s President Xi Jinping met on Friday with Brazil’s vice president, Hamilton Mourao, and said the two countries should deepen their economic relations, which represent an opportunity for their own development, according to one a statement from the Chinese Foreign Ministry.

“The two sides should continue to firmly consider each other as opportunities and partners for their own development, to respect each other, to trust each other, to support each other and to build China-Brazil relations as a model of solidarity and cooperation among developing countries, “said Xi Jinping.

He emphasized that the strategic partnership between China and Brazil is at a “crucial moment”, and that cooperation between the two countries is highly complementary. “I believe that China-Brazil cooperation will certainly evolve into broader perspectives,” he said, receiving Mourão at the Great Hall of the People in Beijing.

Mourao, meanwhile, said that Brazil continues to attach great importance to relations with China and values ​​China’s important contribution to stimulating global economic growth. “Brazil is willing to work closely with China in high-level exchanges, deepen cooperation and friendship, and go hand in hand with China,” he said.

The Brazilian vice president also said that Brazil is willing to promote integration in its investment program within the Chinese initiative “Belt and Road”, which aims to make investments in infrastructures, such as energy, ports, and railways, in more than 60 countries, rebuilding the ancient silk route.

On Thursday, Mourao attended the meeting of the China-Brazilian High-Level Commission for Coordination and Cooperation (Cosban), along with Vice-President of China, Wang Qishan. This year, Brazil will host the leaders of the BRICS (group composed of Brazil, Russia, India, China, and South Africa) in November.

More export

Mourao said on Wednesday that the demand for food by the Asian country will continue to grow, but it is necessary to diversify Brazilian exports with products of higher added value. Last year, the main products exported by Brazil were soybeans, fuels and iron ore and its concentrates, which are basically raw materials.

“China will continue to grow above the world average, and its demand for food, for example, is expected to increase from 11% to 13% by 2030. We will work to expand and diversify Brazilian exports with higher added value. Raise the volume and redirect Chinese investments to areas of interest in Brazil and deepen cooperation in science, technology, and innovation, “said Mourao, who meets until Friday, 24, an official visit to the country.

Since 2009, China has been Brazil’s main trading partner. Bilateral trade flows reached US $98.9 billion in 2018, exports of US $64.2 billion and imports of US $34.7 billion. Bilateral trade is characterized by a significant Brazilian surplus, maintained nine years ago, and in 2018 reached a record US $29.5 billion.