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China seeks expanded trade with Brazil

BRASILIA: Chinese Deputy Prime Minister Wang Qishan met Monday with Brazilian President Dilma Rousseff and expressed his country\'s interest in expanding bilateral relations, especially trade,

Published: 14th February 2012 10:44 AM  |   Last Updated: 16th May 2012 05:55 PM   |  A+A-

BRASILIA: Chinese Deputy Prime Minister Wang Qishan met Monday with Brazilian President Dilma Rousseff and expressed his country's interest in expanding bilateral relations, especially trade, in light of the "complex economic situation" in the world.

Wang headed a Chinese delegation that took part in a bilateral meeting to analyze political and trade relations, as well as cooperation in the financial, agriculture, energy, science, health, space, industrial and technology areas.

China wants to move "forward with a strategic partner like Brazil" and expand bilateral trade, which totaled $77.1 billion last year, with a surplus of $11.5 billion for the South American country, the deputy prime minister said.

China has been Brazil's No. 1 trade partner since 2009, but the goal is to increase exports of value-added products, Brazilian Vice President Michel Temer, who took part in the meeting, said.

"We are also interested in increasing exports of Brazilian meats," Temer said.

Bilateral trade grew 36.7 percent between 2010 and 2011, but the rise was largely due to an increase in the price of raw materials, which account for the bulk of Brazil's exports, the vice president said.

"Brazil and China have industrial economies with a high level of diversification, and that should be better reflected" in bilateral trade, Temer said.

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