TCL Corp, one of China’s main electronics companies, signed a trade deal worth over US$500 million with a Brazilian company during the first China sourcing Fair in Latin America, according to China’s Securities Times.
The deal, which was signed at the fair held in Sao Paulo from 14 to 16 August, is the biggest ever signed by TCL Corp in Latin America, although the Brazilian company was not named.
The chairman of TCL Corp, Li Dongsheng, told the newspaper that Brazil was considered to be a strategic market due to its enormous potential and noted that in 2011 the company had opened a representative office in the country in order to increase its expansion in South America.
TCL Corp sells products worth 200 million yuan (US$31.5 million) every year in Brazil, where it has opened factories in partnership with Brazilian companies.
The first China Sourcing Fair in Latin America was attended by over 540 companies from so-called Greater China, which includes Hong Kong and Taiwan. The fair was organised by Global Sources, which is one of the world’s top business-to-business events organisers. (macauhub)