Countries announced 37 trade treaties during Xi Jinping’s visit to Palácio do Alvorada
Brazil and China signed 37 trade agreements to open markets in areas such as agriculture, educational exchange and technological cooperation.
The commercial treaties were signed during Chinese President Xi Jinping’s visit to Palácio do Alvorada this Wednesday (Nov 20, 2024). The Asian country is Brazil’s largest trading partner.
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“For half a century, China and Brazil have cultivated a strategic friendship based on shared interests and a close world view. China has been Brazil’s largest trading partner since 2007. In 2023, bilateral trade reached an all-time high of US$157 billion”declared the head of the Brazilian Executive.
Agreements were signed in the areas of:
- trade and investments;
- infrastructure;
- industry;
- energy;
- mining;
- finance;
- communications;
- sustainable development;
- turismo;
- sports;
- health; and
- culture.
Lula once again defended a reform of global governance and a democratic international system, “more fair, equitable and environmentally sustainable”.
“The common understandings between Brazil and China for a political resolution to a crisis in Ukraine are examples of the convergence of visions in matters of international security. We will never overcome the scourge of hunger amidst the senselessness of wars”, he stated.
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The Chinese hoped to be able to announce Brazil’s adherence to the Asian country’s largest infrastructure program, the Belt and Road Initiative. The Lula government, however, preferred not to sign the agreement in its entirety.
Planalto considers that there are already initiatives underway and that it can continue seeking Chinese investments without directly aligning itself with Xi Jinping’s geopolitical strategy.
The Brazilian Executive focuses on Chinese participation in 4 major axes: investments in works under the New PAC (Growth Acceleration Program), construction and reform of regional integration routes in South America, contributions to energy transition projects and modernization of the industrial park .
China and Brazil are already joint members of Brics (a bloc originally composed of the 2 countries with India, Russia and South Africa) and have become even closer recently by jointly presenting a proposal for a political resolution to the war between Russia and Ukraine.
Read the list of authorities who participated in the expanded Brazil-China meeting:
- (PSB), vice-president and minister of Industry;
- Minister of the Civil House;
- Minister of Finance;
- Mauro Vieira, Minister of Foreign Affairs;
- Minister of Agriculture and Livestock;
- Minister of Mines and Energy;
- Minister of Communications;
- Minister of Science and Technology;
- Minister of Planning and Budget;
- Celso Amorim, special advisor to the Presidency;
- Aloizio Mercadante, president of BNDES;
- Gabriel Galípolo, appointed president of the Central Bank; and
- Marcos Galvão, Brazilian ambassador to China.
