Friday, July 04, 2008

Brazil seeks to triple trade with China

Brazil wants to triple its exports to China, AP reported, citing Brazilian officials. Speaking in Brasilia at the launch of Agenda China, an initiative aimed at boosting Brazil's trade presence in China, Brazilian Foreign Trade Secretary Welber Barral said the organization will seek to boost sales to China of a wide range of Brazilian products, including pharmaceuticals, chemicals and shoes. Trade between Brazil and China rose tenfold from 2000-2007, according to Brazilian government figures. Brazil's exports to China stood at US$10.7 billion at the end of 2007, 74% of which were low-value commodities such as soybeans. Imports from China in 2007 stood at US$12.6 billion, 96% of which were high-value manufactured goods.

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