Brazilian government prepares trade mission to China in first half

2 March 2007

Brasilia, Brazil, 2 March – The Brazilian government is preparing a trade mission to China in the first half of this year in order to diversify the products it exports to China, a Ministry of Development, Industry and Foreign Trade official said in Brasilia Thursday.

Armando Meziat, secretary for Foreign trade, said that the government planned to meet with businesspeople at the end of the month in order to select the Brazilian products that could enter the Chinese market.

According to Meziat, it was necessary to increase the export of goods to China with greater added value, as “the Chinese sell more to Brazil these days than they buy.”

Brazil currently sells, essentially, two products to China – soy and iron ore – while it imports manufactured goods from China.

China is currently Brazil’s third largest export market and the second biggest source of imports.

In the first two months of 2007, Brazil exported products to China to the value of US$1.104 billion and imported goods worth US$1.493 billion, generating a trade deficit of US$389 million. (macauhub)