Economy

Chinese, Brazilian ministers hold talks on trade

(Xinhua)
Updated: 2011-05-17 11:25

BRASILIA -- Chinese and Brazilian trade ministers met here on Monday on a variety of issues, including bilateral trade, investment and development.

The talks between the two regional giants and emerging economies were "very positive," said Brazil's Foreign Minister Antonio Patriota, who participated in the meeting with Minister for Industry, Development and Trade Fernando Pimentel and Chinese Commerce Minister Chen Deming.

At a joint press conference, the ministers said they had talks within the framework of the High Level of Agreement and Cooperation (COSBAN) that both countries had discussed at a meeting of the Commercial Economic Subcommittee of the China-Brazil Commission.

"We had a very positive meeting in which we discussed specific technical aspects of bilateral trade. We addressed trade, investment, intellectual property rights and customs cooperation," Patriota said.

Stressing that China is Brazil's largest trading partner, Brazilian trade minister Pimentel said bilateral trade reached $20 billion in the first quarter with Brazil holding a surplus of $1.6 billion.

Related readings:  CDB helping Chinese firms get global edge  Brazilian president wraps up China visit  China's Q1 trade with other BRICS nations surges  China, Brazil to promote co-op in culture, education, sports

He welcomed the readiness of China to expand its investment in Brazil as the Chinese delegation presented eight projects and showed a "strong interest" in investment in the electricity sector.

Chinese Commerce Minister Chen said the growth recorded by Brazil in recent years has made the South American country an attractive destination for Chinese investors.

"The Brazilian economy grows, its per capita income grows and Brazil is a country rich in water, soil and sun. The Brazilian people are hardworking and Brazilian culture is attractive to the Chinese," he said.

Chinese investors have shown great interest in expanding business to other sectors, such as agriculture, biotechnology, pharmaceutical, infrastructure, tourism and power generation.

Chen also reaffirmed China's "willingness to diversify the purchase of products from the South American country and strengthen bilateral relations."

"The surplus of the Brazilian side is satisfactory, but the country calls for more diversified trade. China responds that positively even though we are in deficit. We are open to more Brazilian products," he said.

"We examined the implementation of commitments already made in the joint statement by Chinese President Hu Jintao and his Brazilian counterpart Dilma Rousseff after their meeting last month," he added.

Chen is in Brazil to discuss how to proceed on a bilateral program the two countries agreed during Rousseff's visit to China in early April.

Patriota said major issues discussed at the talks included certification for exports of Brazilian pork to China, aircraft sales and cooperation in the telecommunications.

"We look at new areas of cooperation. I drew attention to investment opportunities in infrastructure, with eyes on South American integration, now that Brazil chairs the Unasur (Union of South American Nations) cooperation mechanism for infrastructure planning," he said.

Patriota said the talks also focused on the High Level Dialogue on Science and Technology in Beijing last month, during which Chinese investors had shown interest in the development of new high-tech vehicles.

Chen and the Chinese delegation will attend a business seminar hosted by Brazil's National Confederation of Industry Monday afternoon.