China, Brazil to expand cooperation in production capacity, investment: ambassador

"Brazil is a very important emerging economy with great potential, having a vast territory and wealth of resources," said the ambassador. "Having reached the end of the cycle of prosperity from commodities, Brazil is also facing the challenge of readjusting its economic development strategy."

"I believe that in the future, the two countries are going to reinforce production capacity cooperation in such fields as infrastructure, logistics, energy, mining and manufacturing, based on mutual benefit and shared interests," he added.

Among the cooperation projects the Chinese premier and Rousseff are set to review is a joint feasibility study for proposed construction of a railway connecting South America's Atlantic and Pacific coasts via Brazil and Peru.

They will also discuss the renewal and extension of a 2010-2014 joint program of action for deepening bilateral cooperation.

In 2009, China became Brazil's biggest trade partner, leading importer and top exporter, as well as the largest foreign direct investor.

During Xi's visit last year, the accords signed amounted to 35 billion U.S. dollars, said the ambassador, adding that the agreements to be inked during the premier's upcoming visit should also reach a "very substantial" figure.

China and Brazil are also part of the BRICS bloc of emerging economies, along with Russia, India and South Africa, which has been working to democratize international lending institutions, noted the ambassador.

"China and Brazil also maintain close cooperation in multilateral financial organizations, such as the International Monetary Fund and the World Bank, to establish a more just ... world order," he said.