Brazil’s trade with Chinese city of Shenzen could grow fivefold

27 July 2007

Sao Paulo, Brazil, 27 July – Trade between Brazil and Shenzen in China has the potential to increase fivefold in the next five years, according to the head of the Brazil-China Chamber of Economic Development (CBCDE), Paul Liu.

Citing bilateral trade forecasts, Liu said commercial relations between Shenzen, notably its district of Futian, and Brazil tripled in the three years before 2006 to reach a value of US$ 170 million.

“Nearly all the electronic parts and components sent from China to Brazil come from this region, mainly Futian, and there is potential to triple this trade again and even boost it by five times in the next few years,” Liu said in an interview with Macauhub.

With the goal of increasing this bilateral commerce, the CBCDE organized a meeting earlier this month between a delegation from Futian and Brazilian company chiefs in Sao Paulo to give information about business opportunities in Futian, the financial and technological hub of Shenzen.

The Chinese group included Futian’s deputy civil governor, Hong Cunwei, and representatives of firms in the region such as Excellence Property Group Co., from the real estate sector, and Jingfeng Technology Development Co. from the technology sector.

Over 100 Brazilian executives were also present at the Sao Paulo meeting, as well as China’s economic and trade consul in the city, Lu Yuzhong.

“We’re presenting the city, particularly the district of Futian, to Sao Paulo’s business community so they can evaluate the best areas of business and decide that the best choices are,” the head of the CBCDE told Macauhub.

“China has been opening up economically for 25 years, but Brazilian company leaders rarely learn of the opportunities existing in that country. Shenzen was the first city in a new stage of opening and Futian ended up leading this process, becoming a high technology hub,” added Liu.

The CBCDE chief also said 70 percent of manufacturing industries in Futian were in the high-technology sector, in areas including software, telecoms, biomedicine and electronic equipment.

Some 70 of the 500 biggest companies in the world are also located in the district, according to the CBCDE, and investment from more than 60 countries in Futian is in excess of US$ 7.9 billion.

In 2006, business generated with Futian’s foreign trade reached a value of US$ 55 billion and exports from the area were worth US$ 26.7 billion.

Shenzen is a special economic zone situated next to the border with Hong Kong. (macauhub)