Cross Ocean Hands Up and Sail Away - China Pakistan Economic and Trade Cooperation Achieves Steady Progress

2023-03-29

From the appearance of Brazilian meat products across the sea on Chinese dining tables to the "Made in China" rail train traveling through Sao Paulo, Brazil's largest city; From the beautiful mountain power transmission project that runs through the north and south of Brazil to lighting up thousands of lights, to the inspection and customs clearance of cargo ships loaded with Brazilian coffee... In recent years, economic and trade cooperation between China and Brazil has ushered in rapid development, and has handed over a brilliant "transcript". In January of this year, a cargo ship loaded with corn imported from Brazil to China sailed from Santos Port in Brazil to Machong Port in Guangdong after more than a month's voyage. In addition to corn, Brazil's agricultural and livestock products such as soybeans, chicken, and sugar have already entered ordinary Chinese households through various channels. The dividend of China's high-level opening-up has brought more development opportunities to Brazilian enterprises. At the 5th China International Import Expo in 2022, the 300 square meter Brazilian pavilion showcased Chinese consumers with featured products such as beef, coffee, and propolis. China has become Brazil's largest trading partner for 14 consecutive years. Brazil is also the first Latin American country to break through 100 billion US dollars in trade with China. According to data from the General Administration of Customs of China, in 2022, the total import and export volume between China and Brazil reached 171.345 billion US dollars. China imported 54.4 million tons of soybeans and 1.105 million tons of frozen beef from Brazil, accounting for 59.72% and 41% of their respective total imports. Wang Cheng'an, chief expert of the China Portuguese speaking Countries Research Center at the University of International Business and Economics, said that the economies of China and Brazil are highly complementary, and the demand for Brazil's bulk products in the Chinese market is constantly expanding. Zhou Zhiwei, Deputy Director of the International Relations Office of the Latin American Institute of the Chinese Academy of Social Sciences and Executive Director of the Brazilian Research Center, believes that the trade structure of agricultural products, mineral products, and oil "supported by three legs" will make the economic and trade cooperation between the two countries stable and sustainable. In February of this year, the People's Bank of China and the Central Bank of Brazil signed a memorandum of cooperation on establishing RMB clearing arrangements in Brazil. Zhou Zhiwei said that the signing of this memorandum of cooperation is expected to improve the efficiency of bilateral trade, offset external risks, and provide a more effective safeguard mechanism for bilateral economic and trade cooperation. While bilateral trade between China and Pakistan has steadily developed, investment cooperation has also become increasingly active. China has already become an important source of direct investment for Brazil. Brazil has vast space in fields such as water conservancy, railways, highways, and urban construction. China's investment in Brazil has a rapid growth momentum, with diverse industrial layouts and investment forms. The new business card "Made in China" is benefiting more and more Brazilian people. For example, the State Grid of China has successively invested and constructed several large green space transmission concession projects in Brazil, such as the Meilishan UHV transmission project, the Trispiels hydropower transmission project, and so on. Chinese enterprises in Brazil have helped improve infrastructure construction in Brazil, while actively engaging in public welfare undertakings. The brackish water desalination project, which can produce an average of 80 tons of purified water per day, has enabled residents of the Brazilian city of Joon Camara to "come through all hardships and overcome the difficulty of drinking water.". In recent years, the giant ship of China Pakistan cooperation is sailing towards a new sea area. At the 5th China International Import Expo, Brazil set up a special exhibition area for scientific and technological innovation enterprises in the innovation incubation zone of the Expo for the first time, attracting 19 Brazilian enterprises to participate, covering fields such as new energy vehicles, smart agriculture, and carbon emission reduction. The Brazilian exhibitor Zhiao Space Technology Services Co., Ltd. is a

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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