[2019-11-15] China and Brazil sign agreements during Xi Jinping’s visit

Source: Macauhub

Brazil and China signed agreements and memoranda of understanding in the areas of politics, economy, trade, agriculture, health inspection, transport, health and culture, during a visit to Brazil by President Xi Jinping, who on Wednesday met with President Jair Bolsonaro, Brazilian news agency Agência Brasil reported.

The Brazilian president said at the end of the meeting that the Brazilian government and businesspeople want to expand and diversify trade with China and added that the signed agreements give a boost to this relationship.

President Xi Jinping said the Brazilian Government’s efforts for Brazil’s socio-economic development were positive and that China wants to strengthen friendship and cooperation, as well as increase and improve trade and investment in the country.

He said the two countries had agreed to intensify high-level contacts and make good use of the Sino-Brazilian High Level Commission for Dialogue and Cooperation (Cosban) and other bilateral mechanisms.

The meeting between the two heads of state comes less than a month after President Jair Bolsonaro visited China, at which time agreements were also signed on politics, science and technology and education, economics and trade, energy and agriculture.

China is one of the main sources of foreign direct investment in Brazil, and to date has focused on the areas of energy (production and transmission, as well as oil and gas) and infrastructure (ports and railways).