Minister advocated greater integration between the two nations, even if Brazil loses the current surplus position in the trade balance
Paulo Guedes, Economy Minister, said Wednesday (13) that the government is in negotiation with China to create a free trade area between the two countries: "We are talking with China about the possibility of creating the free trade area also with China, at the same time we talk about entering the OECD [Organization for Economic Cooperation and Development, which brings together countries that operate with market economy]," he said during a seminar in Brasilia. The minister advocated greater integration between the two nations, even if Brazil loses the current surplus position in the trade balance with the Chinese. "I don't mind if, in a situation of surplus [of Brazil today] with China, we balance ourselves ahead, increasing exports by 50% and imports doubling or even tripling." He added: "less than 20 years ago the GDP of Brazil and China was similar. One country remained closed, the other opened up, now China is much bigger, it wasn't afraid to play to the global chain".Guedes highlighted that Brazil wants a greater integration with the other members of Brics, group formed by Brazil, China, India, Russia and South Africa.
It is worth noting that President Jair Bolsonaro today received the President of the People's Republic of China, Xi Jinping, at the Itamaraty Palace in Brasilia. The Chinese leader arrived at 11:10 a.m. at the building where the signing of acts and a joint statement to the press are scheduled. The meeting between the two heads of state takes place less than a month after President Jair Bolsonaro visited China. On that occasion, agreements and memoranda of understanding were signed on politics, science and technology and education, economics and trade, energy and agriculture. Now, the two countries want to deepen this exchange, the political trust and expand cooperation in various areas. The bilateral between the two heads of state takes place within the framework of the 11th Brics Summit. The program of the event begins this afternoon with the closing of the Brics Business Forum. In the evening, back at Itamaraty, the Brazilian government will offer a dinner in honor of the leaders of the bloc, and tomorrow (14), also at the Ministry of Foreign Affairs, the plenary sessions and the closing lunch of the summit take place.
Presided by Brazil, the Brics meeting has as its motto Economic Growth for an Innovative Future. According to Itamaraty, issues related to science, technology and innovation, digital economy, health and the fight against corruption and terrorism will be discussed as a priority. This is the second time Brasília hosts the conference - the first time was in 2010. In 2014, Brazil also organized the summit, which took place in Fortaleza.