CHINA> National
|
CHINA> National
|
|
$10b loan-oil deal lubricates trade
By Li Xiaokun and Zhang Haizhou (China Daily)
Updated: 2009-05-20 07:22
During talks with Lula, Hu proposed that the countries work more closely in such key areas as infrastructure, energy, minerals, manufacturing and agriculture. He also called for greater financial collaboration in bilateral economic and trade activities. Lula told Hu that 35 years after establishing diplomatic relations, Brazil and China "have more to celebrate than countries that have had relations for more than 100 years". From 2006 to 2008, China-Brazil trade surged by an average of 50 percent annually. China replaced the United States as Brazil's top trade partner last month. The Brazilian government said trade with China in April reached $3.2 billion, compared with $2.8 billion with the United States. "I believe Brazil and China are consolidating their strategic partnership (established in 1993), which is reflected in bilateral trade. I also believe the current status is just 10 percent of the potential," Lula said when he met Premier Wen Jiabao earlier Tuesday. Sun Hongbo, an expert in Latin America studies at the Chinese Academy of Social Sciences (CASS), said enhancing oil cooperation is a "significant part" of the Brazilian president's visit, adding that the current financial crisis offered China the opportunity to seal the deal. It is Lula's second state visit to China; he first visited after he assumed presidency in 2003. The visit is to "develop the strategic partnership" between the two "mutually complementary emerging powers", Lula said in a speech at the CASS before unveiling the Center for Brazilian Studies there Tuesday morning. He said there is no way to overcome the current global financial without the involvement of developing countries. He also called for reforming the UN Security Council to give the developing world more voice. Zhou Zhiwei, secretary-general of the Centre for Brazilian Studies at the CASS, said Lula's visit also paves the way for the first summit of the BRIC countries (the others being Russia and India) to be held in Russia next month. Xinhua, AP, Reuters and Diao Ying contributed to the story
|
