China-Brazil Economic Cooperation Deepens

During a state visit to China, Brazilian President Luiz Inacio Lula da Silva emphasized Brazil's commitment to removing trade barriers and enhancing mutually beneficial cooperation with China amidst rising global protectionism. Speaking at a business seminar in Beijing, Lula highlighted the strategic partnership between Brazil and China, underscoring their importance as key players on the international stage. He asserted that their joint efforts can demonstrate the value of cooperation in addressing global challenges.
Lula expressed strong opposition to widespread tariffs imposed by the United States, advocating for multilateralism as the cornerstone of development rather than protectionism. He warned that trade protectionism historically leads to conflict and stressed the need to safeguard the free trade system through multilateral approaches. He conveyed Brazil's dedication to promoting cooperation with China, creating increased opportunities for investment and economic and trade development.
Gao Yunlong, the vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, noted China’s eagerness to see Brazilian enterprises actively engage with the Chinese market. China is prepared to facilitate business operations for entrepreneurs from Brazil and other nations through measures such as visa assistance, financing, and improvements to the business environment.
For 15 consecutive years, China has been Brazil's largest trading partner, with bilateral trade soaring from $12.36 billion in 2004 to $188.17 billion in 2024. China is also a significant source of foreign direct investment in Brazil, with cumulative investments exceeding $70 billion in recent years. Investment cooperation spans from traditional sectors like energy, infrastructure, and manufacturing to emerging industries such as new energy, the digital economy, financial services, and biomedicine.
Brazilian Minister of Communications Frederico Siqueira stated Brazil's openness to partnerships aimed at introducing advanced technologies, including satellite and fiber-optic technologies, ensuring a safe business environment and a robust legislative framework. Fabiana Tomaz of Cortex highlighted the historic turning point in Brazil-China business cooperation, noting her company's pursuit of Chinese investment to develop a Chinese culture-themed commercial center in Brazil. She emphasized the availability of dedicated professionals ready to facilitate business cooperation between the two countries, with a strong desire to streamline interactions.