With Chinese Prime Minister, Lula pledges to diversify investments

The diversification of investments in the bilateral relationship between Brazil and China was one of the topics discussed by the president of Brazil, Luiz Inácio Lula da Silva, and the Chinese Prime Minister, Li Qiang, at the Great Hall of the People, in Beijing, on Friday, 14/4.

Lula highlighted Brazil’s long-standing strategic partnership with China. The year 2023 marks the fiftieth anniversary of these commercial relationships. The first commercial exchange between the countries occurred in 1973, a year before Sino-Brazilian diplomatic relations were formally established. Since 2009, China has established itself as Brazil’s leading trading partner.

“We want to have a relationship with China that goes beyond the economy and trade,” said the president, citing sectors such as science and technology, academic exchange through relations between universities, clean energy, and inclusion of more products in the trade basket, for example, industrialized products produced in Brazil.

Among the bilateral agreements expected to be signed during the visit of the Brazilian delegation to China is a partnership for the construction of CBERS-6, the sixth of a line of satellites. The most recent models bring a technology that allows monitoring biomes such as the Amazon Forest, even on cloudy days.

In 2022, China imported more than US$89.7 billion in Brazilian products, especially soybeans and ores, and exported almost US$60.7 billion to the South American market. The traded volume, US$ 150.4 billion, has grown 21 times since Lula’s first visit to the country in 2004.

Please see below the top 10 containerized exports from Brazil to China shipped last year, according to DataLiner.

Top 10 exports to China | Jan 2022 – Dec 2022| TEUs

Source: DataLiner (click here to request a demo)

In terms of geopolitics, Lula emphasized that the relationship between Brazil and China has the potential to lay the groundwork for a new system of global governance with a focus on advancing food security and strengthening the role of the UN. An official delegation led by Ministers of State, Governors, Deputies, and Senators traveled with President Lula.

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