Brazilian state of Pernambuco attracts Chinese investment to northeast Brazil

7 June 2007

Shanghai, China, 7 June – The president of the Commercial Federation of Pernambuco, who is leading a delegation of Brazilian business owners on a trip to China, said Wednesday in Shanghai, that negotiations were underway to set up two Chinese investment projects in the state of Pernambuco.

Josias Albuquerque, president of Fecomercio-PE, said that one of the investments would be a factory and alcohol distillery in northeast Brazil, a partnership between Grupo Farias and one of the largest Chinese ethanol, biofuel and pharmaceutical companies, from Anhui province.

“The second investment, in the order of US$75 million, will be the setting up of a flat glass factory in Pernambuco, possibly in Serra Talhada, in a partnership between China’s Golden Bull and Pernambuco company Casas Bandeirantes, which prepares tempered glass for Blindex,” Albuquerque said.

Albuquerque was speaking at the opening of a business office for the Brazilian state of Pernambuco at the Brazil-China Chamber of Commerce and Industry (CCIBC), in Shanghai, which will be maintained in partnership with the CCIBC and the Federation of Industries of the State of Pernambuco (Fiepe).

The president of the CCIBC, Charles Tang, during the opening praised the pioneering spirit of Pernambuco for setting up an office in Shanghai.

Tang said that it was necessary to demystify the idea that doing business with China meant predatory competition.

“Where China goes it makes the cost of living cheaper for the population. This is a positive aspect,” said Tang.

More than a hundred businessmen from Brazil a part of the mission of Fecomercio-PE, which is promoting investment opportunities available in northeast Brazil in Shanghai.

The mission has already been in Beijing and will also travel to Ningbo to visit the port and the Chinese Consumer Fair, which brings together exhibitors from 110 countries.

Fecomercio-PE has, since 1996, led trade missions abroad and has recently been in Russia, Poland, Portugal, Germany and Italy. (macauhub)