Trade relations between China and Brazil may total to US$100 billion, Wen Jiabao says

11 June 2012

China’s Prime Minister, Wen Jiabao said Friday in Beijing that he expected trade with Brazil to total over US$100 billion in 2012, according to Chinese news agency Xinhua.

Wen Jiabao was speaking after welcoming the President of the Brazilian Parliament, Marco Maia, who is visiting China as the head of a Brazilian parliamentary delegation.

Prime Minister Wen Jiabao said that relations between Brazil and China were developing steadily and called for greater cooperation in industry, infrastructure, energy, mining, finance, and technology.

China is Brazil’s biggest trading partner with two-way trade totalling US$77 billion in 2011.

In the first quarter of 2012 trade between Brazil and China totalled US$17.9 billion.

Chinese investment in Brazil in 2010 totalled US$30 billion in the oil, iron ore, and soy sectors. (macauhub)