China and Brazil renew Joint Action Plan

13 March 2015

The Chinese Prime Minister Li Keqiang is due to travel to Brazil on 18 May for a visit that will include Brasilia and Rio de Janeiro, from where he will travel onwards to will to Colombia, Peru and Chile, the Brazilian press reported.

The visit should serve to renew the Joint Action Plan between the two countries, a general document on areas of cooperation that was signed in 2010 and is valid until 2014.

The renewal was announced during the visit of President Xi Jinping to Brazil in July 2014, with the intention to extend the plan until 2021, and the new document, which is under negotiation, is expected to be very similar to the current one.

For Brazil, the priority is to improve economic cooperation, attract more Chinese investments and remove difficulties for the entry of exports in China.

In 2014, trade between China and Brazil amounted to US$86.9 billion (-3.29 percent) with Brazilian sales of US$51.97 billion (-3.15 percent) and Chinese sales in the amount of US$34.92 billion (-3.49 percent).

China is Brazil’s largest trading partner of Brazil. (macauhub/BR/CN)