Interview
SÃO PAULO – China has played a vital role in Brazil’s economic recovery during the COVID-19 pandemic, and the two countries should further enhance bilateral relations, a Brazilian business leader says.
“China is a very important partner that Brazil needs, not only in terms of trade but also in terms of foreign direct investment, agriculture, infrastructure, high-end technology, culture, politics, among others,” said José Ricardo dos Santos Luz Júnior, CEO of LIDE (Group of Corporate Leaders) China, a São Paulo-based company that connects Chinese and Brazilian entrepreneurs, in a recent interview with Xinhua in São Paulo.
China-Brazil trade ties continue to boom despite the pandemic. China has been Brazil’s biggest trade partner since 2009, and bilateral trade hit a new record high of US$164 billion in 2021, according to statistics released by China’s General Administration of Customs.
Ernst & Young, in the Overview of China Outbound Investment of 2021, indicated that Chinese enterprises invested US$2.1 billion in Latin America last year and Brazil was one of the two major investment destinations besides Peru.
Luz said he believed that China’s foreign direct investment in Brazil is crucial for Brazil’s economic development, especially in infrastructure, still a bottleneck for the biggest economy in Latin America.
“Most Brazilians are in favor of deepening the relationship with Chinese enterprises and China in general, as China shows enormous possibilities in deepening bilateral ties, especially during the pandemic,” helping to transport medical supplies and sending medical teams to the country, Luz said.
Noting that China has invested heavily in education, Luz said the field is promising for bilateral cooperation, with more Brazilians willing to pursue a bachelor’s or a master’s degree at Chinese universities.
China has helped Brazil’s economy stabilize and helped with its recovery, Luz said, hoping that the two countries deepen practical cooperation across more areas. – Xinhua
