Brazil and China have enormous potential for upgrading cooperation (International Forum)

China is Brazil's largest trading partner, and the potential for upgrading cooperation between the two sides is enormous. The Pakistani side hopes to fully utilize the opportunity of China's expansion of high-level opening-up to the outside world, further enhance its participation in the Chinese market, promote the diversification of exports to China, and promote the steady development of pragmatic cooperation between the two countries

According to statistics from the Brazilian Ministry of Development, Industry and Trade, Brazil's exports to China reached $105.75 billion in 2023, making China Brazil's first trading partner with exports exceeding $100 billion. In the first two months of this year, Brazil's exports to China increased significantly year-on-year, once again demonstrating the important promoting role of the vibrant Chinese market in Brazil's foreign trade and economic development.

Last year, I accompanied Brazilian Governor Rodriguez to visit China and conducted research in many parts of the country. China actively expands high-level opening-up to the outside world and is committed to achieving high-quality economic development, which has left an extremely deep impression on me. This year marks the 50th anniversary of the establishment of diplomatic relations between Brazil and China, which is of special significance. With the implementation of various measures by the Brazilian government to promote the country's re industrialization, promote technological innovation, accelerate low-carbon transformation, and promote social equity, various sectors of Brazilian society are eagerly looking forward to a higher quality, wider scope, and more beneficial cooperation between Brazil and China, to help Brazil walk out of a modernization development path that is in line with its actual situation.

The state of Bahia is located in the northeast of Brazil. Last year, the China Bahia Mining Commission was established with the aim of leveraging the advanced technology and financial advantages of Chinese enterprises in mining development and other fields, following the sustainable development goals and the concept of joint consultation, construction, and sharing. Based on mining project cooperation, it aims to drive comprehensive cooperation between the two sides in new energy, technological innovation, and infrastructure, and help the people of Bahia create a better life.

The cooperation between Brazil and China has already expanded to multiple fields, and the increasingly close economic ties between the two sides have benefited the people of both countries greatly. Taking Bahia Oblast as an example, the export of agricultural products such as soybeans and cotton from Bahia Oblast to China has significantly increased in 2023. The increasing investment of Chinese enterprises in local agriculture and industry is of great significance for improving the employment situation and improving the living standards of the people in Bahia and even in the northeastern region of Brazil. The cooperation in ports, railways, and other areas carried out by both parties in Bahia Oblast has improved the local infrastructure level. In May last year, the Bayia State Institute of Social and Economic Research and the Shandong Provincial Institute of Macroeconomics in China signed a memorandum of cooperation, which stated that the two sides would carry out research cooperation in fields such as agriculture, infrastructure, port logistics, and cultural education.

Currently, photovoltaic cells, mechanical equipment, electrical materials and other products account for a considerable proportion of Brazil's imports from China. These commodities are crucial for the industrial development of Brazil and reflect the high complementarity of the two economies. The two countries have carried out a series of technological research and development cooperation, highlighting their willingness to achieve common progress in fields such as artificial intelligence, electronic communication, and computer science. The two countries are also conducting cooperation in areas such as wind and solar power generation, jointly pursuing green development, which is highly consistent with the United Nations Sustainable Development Goals. The close cooperation with China has effectively promoted the improvement of Brazil's production capacity and technological level, which is in line with the Brazilian government's "re industrialization" strategy and the new version of the "accelerated growth plan".

China is Brazil's largest trading partner, and the potential for upgrading cooperation between the two sides is enormous. The Pakistani side hopes to fully utilize the opportunity of China's high-level opening-up to the outside world, further enhance its participation in the Chinese market, promote the diversification of exports to China, and promote the steady development of pragmatic cooperation between the two countries.

(The author is the director of the Brazilian Bahia State Institute of Socio Economic Research)