Brazil seeks to triple exports to China by 2010
4/7/2008 17:35
The Brazilian government yesterday launched a China Agenda program aimed
at boosting bilateral trade between the two countries, said an official of the
Ministry of Development.
The initiative, which involves a series of
coordinated measures by the government and private sectors, seeks to triple
Brazil's exports to China by 2010 and encourage more Chinese investment in
Brazil.
The goal of the initiative is to increase Brazil's trade presence in
the Chinese market, said Minister of Development Miguel Jorge.
"Brazil's
foreign trade with China will certainly increase, if we raise the technological
content of our exports to the Chinese market with products of greater added
value," Jorge said.
The initiative also proposed measures aimed at bringing
more Chinese investment to Brazil, reducing imbalance in bilateral commercial
transactions and moving forward the discussion of sensitive issues that could
constitute obstacles in the trade expansion between the two sides.
The
Brazilian government has identified 619 products that are in high demand in
China as priority export items to the country.
Meanwhile, the government has
also proposed to include more manufactured products in its exports to China, 74
percent of which now are low-value commodities such as soybeans and pig
iron.
The Brazilian government hoped that the strategy could guarantee the
country's energy security, resources sustainability and the expansion of
external markets. It also expected the program could result in strong direct
investment from China in the coming years.
The trade volume between China and
Brazil totaled US$29.7 billion in 2007, jumping 46.4 percent year-on-year,
according to the latest statistics of China's Ministry of
Commerce.
Xinhua
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