Cementing trade ties
By Jose Ricardo Dos Santos Luzjr | China Daily | Updated: 2011-12-09 08:10
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Business ties between China and Brazil have prospered considerably after China joined the World Trade Organization (WTO) in 2001. Former Brazilian president Luiz Inacio Lula da Silva had during his official visit to China in 2009 said that China was Brazil's most important and biggest business partner.
During the last 10 years bilateral trade increased more than 18 times, reaching $36.9 billion in 2009 and showed a 56 percent yearly growth in 2010 to $56.3 billion. Brazil basically exports commodities to China, such as iron ore, petroleum and soybean, while China mostly exports manufactured goods to Brazil, such as machines, electric equipment and materials.
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