Steadily Developing China-Brazil Trade and Economic Relation

Since the establishment of the diplomatic relations 30 years ago, China-Brazil relations developed successfully, especially after 1993 when the strategic partnership¹ was set up, high-level visits between the two countries were frequent and mutual² trust of governments was enhanced. In 2004, Chinese President Hu Jintao and Brazil President Lula exchanged the visits and the two leaders mutually confirmed 4 principles to guide development of bilateral³ relations, signed China-Brazil joint⁴ communique and decided⁵ to set up a high-level coordinating⁶ and cooperation committee at vice⁷ premier⁸ level. China-Brazil strategic partnership entered into a new development period.

　　Brazil has all along been the biggest trading partner of China in Latin America. On the other hand, China became the third trading partner and third export market and forth⁹ import market of Brazil.In 2005, China-Brazil bilateral trade amounted to US$14.817 billion, of which China’s export were US$4.828 billion and import US$9.989 billion, up by 20%, 31.4% and 15.2% respectively on a year-on-year basis.

　　In recent years, bilateral economic and technical cooperation between China and Brazil was expanded step by step. Chinese enterprises took part in more than 50 big engineering projects of Brazil. Brazil also participated China’s Three Gorges¹⁰ Project. By the end of 2005, China totally invested 89 enterprises in Brazil with total investment of US$151 million. And Brazil invested 384 projects in China with actual investment of US$144 million