Brazil, China see immense potential for further cooperation

According to statistics from the Ministry of Development, Industry, Commerce and Services of Brazil, Brazil's exports to China reached $105.75 billion in 2023, making China the first trading partner of Brazil with export value of more than $100 billion.

The significant growth in Brazil's exports to China in the first two months of this year once again demonstrates the vital role of the dynamic Chinese market in driving Brazil's foreign trade and economic development.

Last year, I visited multiple regions in China with Bahia Governor Jerônimo Rodrigues during his visit to the country. China's efforts to expand high-level opening-up and commitment to high-quality economic development left a deep impression on me.

This year marks the 50th anniversary of the establishment of diplomatic ties between Brazil and China, which holds special significance. As the Brazilian government promotes reindustrialization, technological innovation, low-carbon transformation, and social equity, there is great anticipation in Brazil for higher-quality, wider-ranging, and more beneficial cooperation with China, which is expected to help Brazil pursue a modernization path tailored to its national conditions.

Bahia state is in the northeastern part of Brazil. Last year, the China-Bahia State Mining Commission was established. It leverages China's advanced technology and financial advantages in mining development, pursues the goal of sustainable development, and follows the principle of extensive consultation, joint contribution and shared benefits. With mining cooperation as the cornerstone, it aims to promote the two sides' comprehensive cooperation in new energy, technological innovation, and infrastructure, delivering benefits to the Bahia people.

Cooperation between Brazil and China has expanded across multiple sectors. The increasingly close economic ties between the two sides have benefited the two peoples.

In 2023, Bahia state witnessed a significant increase in exports of soybeans, cotton, and other agricultural products to China. Chinese companies have been investing more in the local agriculture and industry, which have been instrumental in boosting employment and enhancing living standards in Bahia state and northeastern Brazil at large.

The two countries' cooperation on port and railway construction in Bahia state has enhanced the region's infrastructure. Last May, the Superintendence of Economic and Social Studies of Bahia State and China's Shandong Academy of Macroeconomic Research signed a memorandum of understanding for cooperation in research in the fields of agriculture, infrastructure, port logistics, culture, education and other sectors.

Currently, Chinese products such as photovoltaic modules, machinery equipment, and electrical materials make up a significant part in Brazil's imports from China. They are essential for Brazil's industrial development and highlight the strong complementarity between the two economies.

The two countries have engaged in a range of technological research and development collaborations, highlighting their shared commitment to achieving progress in fields such as artificial intelligence, electronic communications, and computer science.

They have also collaborated in areas such as wind power and solar energy generation to jointly pursue sustainable development in line with the United Nations' Sustainable Development Goals.

The close cooperation with China has effectively promoted Brazil's production capacity and technological capabilities, which conforms to the Brazilian government's "reindustrialization" strategy and the new version of a "growth acceleration plan."

China is Brazil's largest trading partner, and there is tremendous potential for further cooperation between the two countries. Brazil hopes to take full advantage of China's expanded high-level opening-up, increase its participation in the Chinese market, diversify its exports to China, and thereby promote stable and robust practical cooperation between the two countries.

(José Acácio Ferreira is the Director General of the Superintendence of Economic and Social Studies of Bahia State, Brazil)