Brazil, China urged to make full use of complementarity

Brazil shares a lot in common with China in the fields of food and minerals and both countries must make full use of this advantage and seek win-win results, said Brazilian Vice President Jose Alencar on Friday in Beijing.

Alencar told Xinhua that Brazil is a big power in food production in Latin America and the world at large and China, with its big population, has a need for food.

"Both sides complement greatly each other in the field of food and minerals, and especially in trade in recent years," Alencar said, adding that Brazil also export a large amount of minerals to China.

"Brazil and China, two large developing countries, must well grasp this advantage," he said.

In recent years, trade volume between China and Brazil has witnessed rapid growth. In 2003, bilateral trade volume was 7.99 billion U.S. dollars and the number in 2005 hit 14.82 billion.

Although China's imports from Brazil were worth 9.99 billion U.S. dollars in 2005, the high growth rate of 31.4 percent in exports to Brazil show it has a greater need of Chinese products.

Alencar said the countries that have really benefited from the wave of globalization are still few at present and Brazil has its own tax law and social security system based on its own actual conditions.

"The absolute free trade among global economic exchanges is hard to realize under the present circumstances. The trade between Brazil and China should be further developed on the basis of realizing each other's interests," said Alencar.

Alencar arrived in China's financial hub of Shanghai on Sunday for an official visit to China as guest of Chinese Vice President Zeng Qinghong. He arrived in Beijing on Wednesday.

Source: Xinhua