“The objective is to attract reciprocal investments”, emphasized the Brazilian vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin, at the Brazil-China Economic Seminar held in Beijing this week.

This year marks the 20th anniversary of the Sino-Brazilian High-Level Commission for Concertation and Cooperation (COSBAN) and the 50th anniversary of the establishment of diplomatic relations between China and Brazil. During his visit, Alckmin met with Chinese leaders, participated in the seventh COSBAN meeting and in a series of economic and commercial activities.

In 2023, Brazil’s exports to China exceeded US$100 billion for the first time, representing 4.8% of total Chinese imports, according to data presented at the seminar. China remains Brazil’s largest trading partner since 2009.

During the visit, the vice president signed memorandums of understanding to promote Brazilian coffee in China’s largest coffee shop chain, Luckin Coffee. The company plans to purchase a total of around 120,000 tons of beans from coffee-producing regions in Brazil this year and next.

The development of smart agriculture has become the new focus in bilateral cooperation. According to Zhang Lubiao, director of the Foreign Economic Cooperation Center of the Ministry of Agriculture and Rural Affairs, China’s investment in Brazil’s smart agriculture has also achieved rapid growth, including COFCO Corporation and Xiamen C&D Group Co., Ltd., helping more local small and medium-sized farmers have access to agricultural machinery and equipment.

According to Alckmin, Brazil always expects more investments from China, especially in the areas of soybeans, oil, iron ore and meat. “We are here to look at the next 50 years and say that we can grow our reciprocal investments even further,” he said.

Source: https://www.chinahoje.net/alckmin-celebra-investimentos-reciprocos-entre-china-e-brasil-durante-cerimonia-em-pequim/

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