Minister Ernesto Araújo announces new Chinese investments in Brazil

30 July 2019

Brazilian Foreign Minister Ernesto Araújo announced Chinese investments in infrastructure and energy projects in Brazil during a press conference in Brasilia, the Brazilian press reported.

Araújo, who did not give details of the projects or say which companies were involved, said that they focus on the two sectors he mentioned and aim to reduce the logistical cost of exporting agricultural products.

The minister, adding that “the fact that we want to establish a closer relationship with the USA will in no way disrupt the relationship with China,” recalled that Brazil was delayed in the two sectors in which the Chinese are now interested. in investing.

During the conference held after the Foreign Affairs BRICS Ministers meeting, Araújo also said that he expected Brazilian agricultural products to have a greater presence in the Chinese market and added that China is interested in some Brazilian industrial products, such as machines and instruments.

The minister also said that the BRICS bank’s potential investment in the country, estimated at US$1 billion, has fallen short of its potential, citing the US$121 million implemented to date. (Macauhub)