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China-Brazil trade set to reach new heights

Though separated by oceans and continents, China and Brazil have fostered deepening bilateral cooperation over the years, especially in investment, trade and finance.

With the upcoming 11th BRICS summit in Brazil’s capital Brasilia, expectations are high for the development of closer ties between the two countries.

STRENGTHENING INVESTMENT

China and Brazil have bolstered investment ties in recent years, and the Asian country has become Brazil’s largest source of foreign investment.

The two countries are not only deepening cooperation in the traditional areas of agriculture, electricity, mining and infrastructure, but also fostering growth in new areas such as technology innovation and the digital economy.

Last month, Brazilian telecommunications giant Oi put Chinese company Huawei’s 5G technology to the test during a local music festival — the largest trial of the 5G technology in Brazil.

Read more on Xinhua.

Source: Xinhua

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