China and Brazil to upgrade ties

Action Plan to help Latin American nation build modern service sector

China and Brazil signed a memorandum of understanding on Tuesday to diversify service trade to upgrade their commerce structure from commodity and goods exchanges.

The MOU, or the Two-Year Action Plan, is designed to encourage the two countries to improve service trade in eight areas including engineering, architecture, e-commerce, banking automation and tourism, to enrich bilateral trade ties over the next two years.