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Chinese Business Leaders Urged to Invest in Brazil
2013-11-13
Brief:Brazil is China’s top trading partner in Latin America. Brazilian Vice President Michel Temer urged Chinese business leaders to invest in his country.
Brazilian Vice President Michel Temer urged Chinese business leaders to invest in his country, touting important “windows of opportunity” in the Latin American country.

Temer gave the keynote address at a meeting of the Brazil-China Business Council in Beijing, where he wrapped up a visit aimed at bolstering ties between two of the world’s leading emerging economies.

Brazil and China have a “unique opportunity” to boost their trade relationship, he said.

Bilateral trade exceeded $75 billion last year and expectations are that those commercial exchanges “will grow exponentially,” the Brazilian vice president said.

China has been Brazil’s largest trade partner and one of the main sources of foreign direct investment in the South American country since 2009. Brazil, meanwhile, is China’s top trading partner in Latin America.

Brazilian exports to the world’s second-largest economy, which last year totaled $41.2 billion, thus far have been limited to a small group of raw materials including soy, according to Temer, who said Brazil now is seeking to diversify those sales and export products with more added value to China.

Temer, who met with China’s vice president, Li Yuanchao, and president, Xi Jinping, sat down with Brazilian and Chinese business leaders in the farm sector.

The vice president sought during his visit to convince Chinese authorities to lift a ban on Brazilian beef, imposed after a case of mad cow disease late last year, saying “we’re hoping for a very quick solution.”

In that regard, Brazilian Sen. Katia Abreu said that China’s General Administration of Quality Supervision, Inspection and Quarantine would send a delegation to the South American nation before Dec. 15 to examine refrigerated containers and verify that Brazilian beef is free of mad cow disease.
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