Brazil to diversify sales to China


The country also plans to bolster technological exchange with China

Agência Brasil – Brazil’s Economy Minister Paulo Guedes said yesterday (Jan. 17) he plans to forge more partnerships—chiefly in technology—with China, the main destination of Brazilian goods. He spoke after meeting Chinese Ambassador Yang Wanming, when they talked about ways to diversify the trade agenda between the two nations.

Guedes reiterated Brazil’s willingness to make business with as many countries as possible, with no any ideological bias. According to a source in the Economy Ministry, the stance is in line with what has been said by President Jair Bolsonaro.

The ministry reported that the Brazilian government wants to diversify exports, boosting the sales of products with more added value to the Chinese market and lowering the sale of commodities.

Last year, Brazil exported $64.2 billion to China (26.8 percent of the total amount sold overseas), and imported $34.7 billion (19.2 percent of the amount). The main goods sold to the Asian country were soybeans, crude oil, and iron ore.

Conversely, Brazil’s imports from China focus on manufactured good and capital goods, like machinery for oil drilling and mining.