Brazil, China relationship can serve as a model for other developing nations

Updated: 2014-08-18 04:56

By ZHANG FAN in Sao Paulo(China Daily Latin America)

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Brazil, China relationship can serve as a model for other developing nations

"The relationship between China and Brazil is facing the start of a new page, the two countries should continue enhance the cooperation and further advance the current ties to making the China-Brazil partnership a model of the mutual beneficial relations between developing countries", said Chinese Consul General Chen Xi in Sao Paulo on Aug 11. Zhang Fan / China Daily

The relationship between China and Brazil is turning over a new page and the two countries should further advance current ties to make the partnership a model for interaction between developing countries, said Chinese Consul General Chen Xi in Sao Paulo.

Chen made the speech on Aug 11 at a ceremony to celebrate the 40th anniversary of the establishment of diplomatic ties between China and Brazil. The ceremony was co-hosted by the City Council of Sao Paulo and the Brazil-China Friendship Association. It was attended by about 200 that included entrepreneurs and Chinese and Brazilian officials.

"The ceremony shows that the governments of China and Brazil are firmly determined to advance the bilateral cooperation between China and Brazil," said Chen, "I believe the friendship between the two countries will appreciate continually."

Chen's words were echoed by Fernando de Mello Baretto, the representative of the Ministry of External Relations in Sao Paulo.

"China's investment in science and technology and innovation deeply impressed me. The two countries maintained frequent cooperation in diplomatic and other fields," said Baretto. "The 21st century is for Asia and areas around the Pacific Ocean. China and Brazil will enjoy a bright future if such cooperation can be continued."

China and Brazil established a diplomatic relationship in 1974 and then moved to a strategic partnership in 1993, making it the first strategic partnership between developing countries.

With development over the years in both nations, bilateral trade between China and Brazil increased from $17.4 million in 1974 to over $90 million last year. Brazil is now China's ninth largest trading partner.

At the same time, more Chinese investors are paying attention as more than $15 billion in investment came into Brazil from China in 2012, an increase from $200 million in 2009.

Chinese President Xi Jinping paid a state visit to Brazil last month and the two countries signed about 56 agreements covering economic and cultural cooperation.

"The cooperation between China and Brazil has followed several principles -- cultural communication, political respect and cooperation, continuous economic development and international cooperation," said Gilmar Maiero, coordinator of the department of management at the school of economics, management and accounting at the University of Sao Paulo.

Maiero especially praised the breakthrough in political and international cooperation between the two countries, pointing to starting a development bank for BRICS countries. BRICS is an acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.

The Sixth BRICS Summit, held in Fortaleza, Brazil last month, witnessed the establishment of the BRICS Development Bank, headquartered in Shanghai. The bank is designed to purchase government and other securities from international markets and increase the available money supply for member countries so they can invest more in infrastructure development and other projects.

"The world has largely changed compared with the past so there is a necessity to have a new international order to solve the new issues and the BRICS bank is very important," said Maiero.