Brazil plans to create new opportunities with China

Brazilian Foreign Minister Ernesto Araújo said that the Brazilian government is interested in raising its relations with China to an unprecedented threshold. “We wish to create new opportunities [with China] for Brazilian exporters and investment,” Araújo said in Brasília Tuesday (Jun 4), during a dinner held to honor vice-President Hamilton Mourão, organized by the Brazil–China Parliamentary Fronts and Brics.

The chancellor said there is no “contradiction” in building high-level simultaneously with China and the US—another country, Araújo said, that has maintained an excellent flow of commerce and investment with Brazil.

“There’s no contradiction. We can have profitable relations with both, with no animosity, there’s no problem at all,” he said.

Noting that China is Brazil’s top trade partner today, Araújo said that the Brazilian government has encouraged the expansion of talks aimed at opening “new avenues in both trade and investment.”

In 2018, bilateral trade stood at $98.9 billion. Brazilian exports reached $64.2 billion, whereas imports totaled $34.7 billion. Figures from the Central Bank indicate that China had a stock of investment including 155 projects, especially in the financial, energy (generation, transmission, in addition to oil and gas), infrastructure (ports and railways), services, and innovation sectors until 2018.

In order to further bolster bilateral ties, President Jair Bolsonaro is expected to fly to China in September. Chinese President Xi Jinping will also come to Brazil to attend the 11th summit of Brics (Brazil, Russia, India, China, South Africa), which is slated to take place on November 13 and 14, in Brasília.