Brazil: Brazil wants to increase exports to China

16 June 2008

Brasilia, Brazil, 16 June – Brazil is expected to export US$30 billion in goods to China in 2010, the secretary of the Brazilian Ministry of Development, Industry and Commerce, Welber Barral said Friday.

Barral said that target would be announced by the Brazilian government on 3 July, in a meeting at the National Confederation of Industry (CNI) which will bring together Brazilian businesspeople.

At the meeting, according to the secretary, a report will be presenetd that was organised by the Brazilian government in partnership with the Brazil-China business council, with a schedule of activities to attract Chinese investments to Brazil and promote Brazilian trade in China.

Until 2006, the balance of trade between China and Brazil posted a surplus for Brazil but in 2007 Brazil posted a deficit of US$1.9 billion.

In that year, whilst Brazilian sales to China totalled US$10.7 billion, acquisitions of Chinese products by Brazilian totalled US$12.6 billion.

From January to May of this year (2008), the balance of trade between the two countries was a deficit for Brazil of US$1.45 billion.

“In this report we cross-referenced the import/export lists: In which sectors in China is there potential for expansion fo Brazilian exports and which are the sectors in Brazil where there could be CHinese investments?” Barral said.

Barral added that the document would also be presented in Beijing on 11 July, to Chinese businesspeople. (macauhub)