Trade between China and Brazil expected to reach US$20 billion in 2006

26 September 2006

Macau, China, 26 Sept – Trade between Brazil and China is expected to total US$20 billion this year, the executive secretary of the Brazilian Ministry of Development, Industry and Commerce, Ivan Ramalho said Monday in Macau.

Speaking at a press conference after the Forum for Economic and Commercial Cooperation between China and the Portuguese-speaking Countries, Ramalho said that over the last three years trade between Brazil and China had “grown a lot” and this year exports and imports “should for the first time reach US$20 billion.”

With this volume of trade, Brazil is China’s main Portuguese-speaking trading partner. This year China is expected to do total trade with Portuguese-speaking countries of US$33 billion.

“China is currently Brazil’s third-largest trading partner,” Ramalho said adding that the Forum had “positively influenced relations.”

China’s Trade Minsiter Bo Xilai said that China had, ”always valued” its cooperation with Brazil from which it buys “large amounts of soy, iron ore and other products.”

Bo mentioned several other sectors in which China and Brazil cooperated such as aviation and industry and said that in future the commercial relationship with Brazil would be extended to many other areas.

At the press conference the representatives of several African countries and East Timor spoke of the advantages of Forum Macau and specified some aspects of bilateral relations that they wished to implement.

The Forum for Economic and Commercial Cooperation between China and the Portuguese-speaking Countries, created in 2003, was launched by China to boost Macau’s special relationship with Portuguese-speaking countries and aims to tighten multilateral links in order to encourage cooperation and trade. (macauhub)

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