Brazil: Trade between Brazil and China expected to rise 50 pct in 2008

27 August 2008

Sao Paulo, Brazil, 27 Aug – Trade between Brazil and China is expected to total US$45 billion in 2008, a rise of 50 percent against 2007, the Chinese commercial attaché in Sao Paulo, Lu Yuzhong said in Sao Paulo Tuesday.

Lu noted that trade between the two countries had risen over 12-fold between 1997 and 2007, when it reached US$30 billion.

“This rise means many business opportunities between the two countries,” the diplomat said on the sidelines of a seminar attended by a business mission from Macau, in Sao Paulo.

The rise in trade (imports and exports) has consolidated China’s second position in the ranking of Brazil’s biggest trading partners, behind the United States and ahead of Argentina.

Lu said, meanwhile, that cooperation and investments between the two countries, “is still at an initial stage and does not correspond to the size of China and Brazil.”

The trade attaché cited the “good example” of the rise in cooperation of the Sino-Brazilian programme for satellite construction, which had already resulted in the launch of three units.

The business opportunity and bilateral investment seminar brought together a business mission from Macau and dozens of Brazilian businesspeople, at the São Paulo Commercial Association (ACSP).

Founded in 1894 and representing 30,000 companies in the State of Sao Paulo, the association recently opened an office in Macau to support Brazilian businesspeople interested in the Chinese market.

The group of 14 Macau businesspeople, which is visiting Brazil this week, is headed by Echo Chan, director of the Macau Trade and Investment Promotion Institute (IPIM).

“Macau offers Brazilian businesspeople a regional platform of services, with a legal environment and an entire regulation in Portuguese,” said Echo Chan.

“Another advantage is that products certified as originating in Macau can enter China without paying taxes,” she noted.

The IPIM director invited Brazilian businesspeople to take part in the XIII International Macau Fair (FIM), which is scheduled for between 23 and 26 October.

The vice president of the São Paulo Commercial Association, Alfredo Cotait said that his association’s decision to open na Office in Maçai had been a “daring and pioneering,” move.

“We want to create a basis for supporting small and medium-sized Brazilian companies in their commercial relationship with the Chinese and also with other Portuguese-speaking companies in China,” he said. (macauhub)