Dongguan municipality and the Brazil/China Chamber for Economic Development (CBCDE) recently signed in São Paulo a US$200 million agreement on investment in the furniture sector, reports the Brazilian press.
The agreement will enable the creation of a centre for the exhibition and sale in São Paulo of furniture produced in Dongguan. The meeting organised by the CBCDE witnessed the signing of a protocol to open a branch of that institution in the Chinese city, as well as a cooperation agreement between the CBCDE and Dongguan municipality’s secretariat for international issues.
The president of the CBCDE, Wang Dian Xing, said the agreements signed are the start of a “major conquest” to attract other Chinese companies to Brazil.
“With these agreements Chinese entrepreneurs can get to know the country better,” said Wang, adding that since 2012 the Chamber had carried out various projects meant to increase investment from Chinese companies in the Brazilian economy.
Dongguan prefect Xu Jianhua said the trip’s aim was to deepen external trade ties between the city and Brazil, currently amounting to US$1.290 billion, with Dongguan exporting merchandise worth US$770 million and importing goods worth US$520 million.
The list of products Brazil exports to Dongguan includes food, leather and electronic components. Brazil in turn imports furniture, apparel and electronic and mechanical equipment from that municipality.
The delegation from Dongguan municipality in Guangdong province comprised 42 members, including 27 businessmen from various activity sectors. (macauhub)