“We want the Chinese industry to come and produce cars in Brazil”, says president of ABDI

São Paulo was the stage for one of the biggest events on the world economic calendar, the B20 Summit, on October 24th. Among the participants, the president of the Brazilian Agency for Industrial Development (ABDI), Ricardo Cappelli, reinforced the challenges and objectives of Brazilian industry.

“We don’t just want to export soybeans to China and import ready-made cars from the Chinese industry. We want Chinese industry to come and produce cars in Brazil, to create jobs and transfer technology,” he said in an interview with Xinhua agency. Cappelli also stated that the country faces a challenge in the cost of capital and must seek a greater balance between partner countries.

The event was also attended by vice-president Geraldo Alckmin, who made comparisons between the Summit and the objectives of the G20 Summit. “Together, B20 and G20, share a common vision: to reform the global trading system, to respond to the challenges of the 21st century, creating a more connected, sustainable and inclusive world,” he said in a speech.

The 19th G20 summit will take place in November, in Rio de Janeiro. Alckmin stated that Brazil, as host of the event, plays an important role in promoting global cooperation in key areas such as sustainable trade, gender equality and green transition.