China and Brazil have a long history of trade relations, with strong growth in bilateral trade and economic cooperation. Here are some important aspects of China-Brazil trade relations:
- Rapid growth in bilateral trade: Since the establishment of diplomatic relations in 1974, China-Brazil bilateral trade has grown rapidly. According to Chinese customs data, bilateral trade reached a record high of $116.7 billion in 2022, up 4.9%. China is Brazil's largest export market and source of imports.
- Complementary trade structure: The trade structure between China and Brazil is highly complementary. Brazil mainly exports raw materials and primary products such as soybeans, crude oil, iron ore to China, while China exports industrial and electronic products such as machinery, automobiles, mobile phones to Brazil. This complementarity enables both parties to achieve mutual benefits and win-win outcomes in trade.
- Increasing investment cooperation: In recent years, China-Brazil investment cooperation has gradually increased. Chinese companies have invested in various sectors in Brazil, including energy, infrastructure, and agriculture. At the same time, Brazilian companies have also started investing in China, mainly in manufacturing and service industries.
- Deepening technological cooperation: China and Brazil have also deepened their cooperation in technology. Both countries have extensive cooperation in areas such as aerospace technology, new energy, etc. In addition, China has provided technical support and training to Brazil to help improve agricultural production efficiency and management levels.
- Close cultural exchanges: Cultural exchanges between China and Brazil have become increasingly frequent. In recent years, cultural exchange programs between the two countries have increased, including the arts, music, film, education and other fields. These cultural exchanges help deepen the friendship and understanding between the people of both countries.
In general, China-Brazil trade relations have made considerable progress over the past few decades, with strong growth in bilateral trade and economic cooperation in various fields. With the continuous development of both economies in the future, it is expected that bilateral trade and economic cooperation will continue to expand and deepen.