Brazil and China discuss cooperation in the fiscal and financial sectors

20 June 2017

The deputy finance ministers of Brazil and China agreed on Sunday in Shanghai to deepen cooperation in the fiscal and financial sectors, Chinese state news agency Xinhua reported on Monday.

Marcello Estevão, deputy finance minister of Brazil and his Chinese counterpart, Shi Yaobin, “entered into agreements” on issues of “macroeconomic policy, structural reforms and cooperation within the G20 and BRICS,” the agency reported.

Xinhua added that the two leaders also addressed cooperation in the financial, investment and fiscal policy sectors at a meeting held on the eve of the meeting of finance ministers and central bank governors of Brazil, Russia, India, China and South Africa (BRICS).

Shi Yaobin, quoted by Xinhua, said China is willing to deepen coordination in macroeconomic policies with Brazil to seek greater potential in bilateral investment.

Estevão said China is Brazil’s largest trading partner and its largest foreign investor, adding that the two countries, which are part of the G20 and BRICS, have a great deal of potential for cooperation, including economic cooperation. (macauhub)