Trade between Brazil and China should come close to US$ 10 billion in 2005, with a flow favorable to Brazil, which exports more to the Chinese than it imports. This information was given, December 6, in Rio by Ivan Ramalho, secretary of the Ministry of Development, Industry, and Foreign Trade.
He disclosed that this increase should occur through flows in both directions. Brazil’s exports are expected to grow chiefly in the area of manufactured goods, such as auto parts.
Ramalho participated in a meeting with a delegation from the Chinese Confederation of Commerce and Industry, led by Huang Megfu, vice-president of the Permanent Committee of the Chinese Advisory and Political Conference – an office equivalent to vice-president of the country.
According to the secretary, “from the point of view of exports, in particular, we still note a rather large presence of basic commodities in the list of Brazil’s exports to China.
After President Lula’s visit to that country, however, in the company of around 400 entrepreneurs, we believe that new business deals will arise, with a greater diversification of the export portfolio, including more manufactured products, products with greater added value.”
Ramalho went on to say that trade between the two countries should surpass US$ 9 billion even this year, since the cumulative flows through October already registered exports on the order of US$ 4.726 billion and US$ 2.985 billion in imports, for a total trade flow of US$ 7.7 billion.
The secretary underscored, however, that although China is currently the third largest customer for Brazilian products, Brazil’s exports absorb only around US$ 5 billion, approximately 1% of the roughly US$ 400 billion that China imports annually from all over the world, thus presenting a great potential for incrementing trade between the two countries.
Agência Brasil
Translator: David Silberstein