Trade between Brazil and Hubei province increases 42% Jan-Oct

7 December 2005

Sao Paulo, Brazil, 07 Dec – Trade between Brazil and China’s Hubei province increased 42.2% to US$183 million, in the first 10 months of 2005, against the same year-ago period, Hubei’s Trade Department director said Tuesday in Sao Paulo.

Brazilian imports of products from Hubei totaled US$30.6 million, while imports from Brazil by the Chinese province totaled US$153.2 million.

“Brazil is China’s biggest Latin American partner and there is still a lot of potential to widen that trade,” said Yang Baosheng at a meeting of Brazilian and Hubei businesspeople, adding that Hubei buys iron ore and agricultural products from Brazil.

Yang Baosheng said that last year around 60 Chinese companies based in Hubei invested US$90 million abroad.

“China and Brazil are the biggest developing countries in the East and West of the globe,” the head of the business mission, vice general secretary of Hubei Wang Guoyao told Macaubub.

He added that Hubei could offer Brazilian businesspeople easy access to the remaining regions in China.

“Hubei is known as the key to the nine provinces, the land that emanates fish and rice because of its geographic location in the central region of China, and its agricultural tradition,” he said.

The meeting, the biggest in Brazil this year between the two countries, was set up by the Brazil-China Chamber for Economic Development (CBCDE) and by China’s Consulate-General in Sao Paulo.

The president of the CBCDE, Paul Liu said that the aim of the meeting was to increase trade, particularly between Hubei and Sao Paulo state, the most industrialized state in Brazil.

“Partnerships between a foreign businessperson and a local partner are the best route for anyone who wishes to start operating in another country,” said Liu.

The CBCDE was set up in June 2001 in Sao Paulo. It has around 200 associated companies and aims to encourage trade and investment between the two countries.

Hubei province, the capital of which is Wuhan, has an area of 185,900 square kilometers and a population of 60 million people.(macauhub)