A delegation of the Chinese government visited the Brazilian Ministry of Industry, Foreign Trade and Services (MDIC) in Brasilia on Monday to discuss issues related to the countries’ bilateral trade and investment agenda for 2018 and 2019.
The meeting between the Minister of Industry and Information Technology of China Miao Wei and the interim Minister of the Brazilian MDIC, Yana Dumaresq discussed Brazilian Industry 4.0 Agenda, investments, and scheduling of bilateral meetings for 2019, when Brazil will chair the BRICS (Brazil, Russia, China, India and South Africa) organisation.
Industry 4.0 is the term applied to the technologies and concepts for the organisation of the value chain. Within the iIntelligent and modular manufacturing factories of Industry 4.0, cyber-physical systems (CPS) monitor processes, create a virtual copy of reality, and make decentralised decisions.
China is Brazil’s main trading partner.
In 2017, Brazil exported the equivalent of US$47 billion to China and imported goods worth US$27 billion from the Chinese market, which resulted in a trade surplus for Brazil of over US$20 billion.
From January to July 2018, exports to China totalled US$36 billion and Brazilian imports reached US$19 billion, or a US$17 billion surplus for Brazil. (macauhub)