China Brazil's economic and trade cooperation is thriving with promising prospects

As the two largest developing countries in the eastern and western hemispheres, China and Brazil have been thriving in economic and trade cooperation in recent years, and Brazil has become the first country in Latin America to break through hundreds of billions of dollars in trade with China. Nowadays, the economic and trade relations between China and Brazil have further deepened, and economic and trade cooperation in various fields has improved and upgraded, becoming a new model of mutually beneficial and win-win cooperation. The prospects for economic and trade cooperation between the two countries are promising.

The trade volume of goods between China and Brazil has reached new highs. According to Brazilian statistics, China has become Brazil's largest trading partner for 14 consecutive years and is also an important source of direct investment for Brazil. Cooperation involves a wide range of fields such as manufacturing, energy and mining, agriculture, and infrastructure. Brazilian observers point out that economic and trade cooperation between the two countries is steadily progressing and thriving, continuously unleashing development potential and adding momentum and vitality to the Brazilian economy.

Marcio Bohman, director of the Lula Institute in Brazil, said that trade with China has made a significant contribution to Brazil's trade surplus. Since 2008, Brazil's exports to China have been continuously increasing, and China's position as Brazil's main trading partner has been continuously consolidated, especially after the opening of BRICS cooperation in 2006 and China's leap to become Brazil's largest trading partner in 2009.

A report released by the Brazilian Council of Chinese Entrepreneurs at the beginning of this year suggests that Brazil's exports to China are expected to increase to $103.4 billion by 2030, mainly including iron ore, copper, pharmaceutical products, power equipment, non organic chemicals, and wood products. In addition to trade cooperation, the supply chain cooperation between the two countries in fields such as oil and gas, electricity, agriculture, infrastructure, communication, and technology has also yielded fruitful results, effectively promoting the deepening and upgrading of bilateral relations.

The Port of Asu, located in the city of San Joao da Barbara in the state of Rio de Janeiro, Brazil, is one of the most modern ports in Brazil. Since its opening and operation in 2014, the cooperation between Asu Port and Chinese enterprises has continued to deepen, jointly exploring new modes of energy cooperation. In 2022, the cargo throughput of Asu Port was 57 million tons. Brazil's oil exports through the port of Asu account for 40% of the country's total oil exports. In addition, a large number of products such as iron ore, bauxite, and copper are exported to China through Asu Port.

In addition to energy transportation, Asu Port is also committed to new energy power generation and low-carbon industrial development. In 2021, the first phase of the Asu Port Natural Gas Complex (GNA) project, in which China State Power Investment Group Co., Ltd. (State Power Investment) participated, began commercial operation. In 2022, the GNA Phase II project was officially launched and commercial operations are planned to begin in 2025. It is reported that the total installed capacity of the first and second phases of the project is about 3 gigawatts, which can meet the electricity demand of tens of millions of local households and provide tens of thousands of employment opportunities for the local area.

In the field of digitalization, Chinese enterprises have also broken a new Xintiandi in Brazil. Yu Jun, the head of Lenovo Group's Brazil representative office, told reporters that Lenovo Group continues to improve its digital intelligent manufacturing level in Brazil, empowering local development with "Chinese intelligent manufacturing" while continuously improving its own business.

We have hired over 1600 local employees in Brazil and invested 500 million Brazilian real (approximately 699 million yuan) to establish a joint research and development department, collaborating with 14 research institutions and universities in Brazil. "Yu Jun said," Our share in the Brazilian personal computer market has jumped from 3.56% in 2012 to 20.44% currently

As a major agricultural country in the world, Brazil and China continue to deepen their cooperation in the field of agriculture and agricultural products. Brazil's advanced agricultural technology, sufficient and high-quality land resources, and climate conditions suitable for agricultural development complement China's comprehensive agricultural industry chain and refined management pattern formation.

Since its establishment at the end of 2017, Longping Agricultural Development Co., Ltd. has combined the industrial advantages of China and Brazil, relying on deep experience in germplasm resource research and development, high-intensity scientific research investment, and refined management methods, occupying a place in the high-end and mid to high-end corn seed market in Brazil, and becoming a well-known local seed company.

"The domestic agricultural industry chain has a complete range of categories. The introduction of China's means of production into Brazil will further reduce the local agricultural production costs, improve the international competitiveness of Brazilian agricultural products, and at the same time enable China to enjoy high-quality and inexpensive imports of Brazilian agricultural products." Shi Liang, general manager of the company, told reporters.

Xia Huasheng, Associate Professor of International Finance at the University of the Vargas Foundation in Brazil, stated that economic and trade cooperation between China and Brazil brings a win-win situation, allowing the two peoples to enjoy high-quality products and services at lower prices. We look forward to continuing to showcase our strengths and mutually beneficial cooperation in a more environmentally friendly and sustainable manner.

Xia Huasheng said that within the framework of the "the Belt and Road" construction and the BRICS cooperation mechanism, the two countries have great cooperation potential and can continue to promote cooperation in green finance, sustainable infrastructure, new energy and other fields.

Brazilian economist Ronnie Lins stated that Brazil and China have multiple areas of cooperation and great potential for complementarity, and their relations will achieve greater development.