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China and Brazil will further promote the diversified trade and bilateral economic and trade cooperation, said the joint communique issued by the two countries on May 19 during Brazil President Lula da Silva's visit to China. |
| Full Text: China, Brazil issue joint communique to boost strategic partnership >> |
Backgrounder: In 2008, China's gross domestic product (GDP) reached 4.4216 trillion USD, up 9% year-on-year, ranking the third in the world. In the first quarter of 2009, China's economy expanded by 6.1% year-on-year.
Brazil has a moderate free market and export-oriented economy. In 2008, Brazil's GDP grew by 5.1% to 1.57 trillion USD, ranking tenth in the world. Today, 74% of Brazil's exports consists of manufactured and semi-manufactured products, while befroe WWII its export list was basically raw and primitive goods. |
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| Bilateral trade |
| · $10b loan-oil deal lubricates trade |
"Petrobras will repay the loan with revenue from oil sales to China, and not with oil itself as some media have speculated... This is the largest loan Brazil has ever obtained in China," said CEO Jose S. Gabrielli De Azevedo.
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| · China surpasses U.S. to become Brazil's biggest trading partner |
China replaced the United States to become Brazil's biggest trading partner, said Brazil's Ministry of Development, Industry and Exterior Trade on May 4...
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| Tackle crisis in multilateral framework |
| · China to strengthen cooperation with Brazil to fight crisis |
China will continue to strengthen cooperation with Brazil to fight the current international financial crisis, Chinese President Hu Jintao said on Apr. 2 at a meeting with his Brazilian counterpart Luiz Inacio Lula da Silva...
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| · BRIC and other Emerging economies call for bigger say at G20 |
While the G20 summit is about to convene in London, BRIC and some other emerging economies insist developing countries should have a bigger say in multilateral financial discussion and relevant policy-making process...
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