Trade, Investment to be Focus of Brazilian President Lula’s China Trip Next Week

Brazilian President Lula is set to visit China between March 26-30 following an invitation by Chinese President Xi, Brazil’s Foreign Ministry said on Friday. Lula is scheduled to meet Xi, Prime Minister Li and President of the National People’s Congress Zhao in Beijing. The focus of the visit will be bilateral trade, investment, reindustrialization, energy transition, climate change and world peace and security.

Lula is also scheduled to visit the New Development Bank headquarters, previously known as the BRICS Development Bank, in Shanghai.

At least 20 trade deals are expected to be signed during Lula’s visit, with around 240 business people across different sectors, including 90 from Brazil’s agricultural sector joining the trip.

The visit will be Lula’s third official trip to China, following previous ones in 2004 and 2009.

China is a large importer of Brazilian goods, mainly agricultural products.

Since 2009, China has been Brazil’s biggest trading partner and one of the main foreign investors in the South American nation.

In 1993, both nations established a strategic partnership, which was elevated to comprehensive strategic partnership in 2012.

Brazil and China will celebrate 50 years of diplomatic relations in 2024.

Brazil’s trade promotion secretary Fernandes said at a press briefing that all the government’s ministries will be represented on the visit to Beijing and Shanghai.

Foreign Ministry’s Secretary for Asia, Pacific and Russia, Saboia, said Brazil is hoping to diversify its trade relationship with China, the largest customer for Brazilian exports, mainly soy beans and iron ore.

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