Brazil: Twofold trade increase with China forecast over next 5 years

13 August 2008

Beijing, China, 13 Aug – Brazil will double the value of its commercial exchanges with China in the coming five years, the chairman of the Brazilian Agency for Exports and Investment Promotion (Apex Brazil), Alessandro Teixeira, said Monday in Beijing.

In comments to the Xinhua news agency, Teixeira said trade between Brazil and China is set to expand by at least 10 to 15 percent by 2010 and double over the next five years.

A delegation from Apex Brazil has traveled to China during the Beijing Olympics to promote Brazilian products and services and also to attract Chinese investment, as China is Brazil’s No. 1 commercial partner in Asia.

Apex Brazil has already staged business conferences in Beijing and Macau and will undertake another 49 across China.

“I think agricultural and agro-industrial products, as well as biofuels, have great potential in the Chinese market and Chinese investors are interested in infrastructures, mining industries and high technology in Brazil,” Teixeira told Xinhua.

Brazil, Latin America’s powerhouse economy, is also China’s main trading partner in the region and two-way commercial exchanges in 2007 reached US$ 23.4 billion. (macauhub)