Lula and Xi sign dozens of trade deals as Brazil-China ties deepen
Chinese President Xi Jinping and Brazilian President Luiz Inácio Lula da Silva have signed nearly 40 agreements focusing on trade, technology and environmental protection, further solidifying the relationship between the two nations.
During their meeting in Brasília on Wednesday, the leaders emphasized the significance of the agreements in strengthening bilateral ties. President Xi described the moment as a "historic milestone" in China-Brazil relations, expressing China's commitment to becoming "golden partners" with Brazil.
President Lula echoed this sentiment, expressing confidence that the collaboration would "exceed expectations and mark the beginning of a new phase in bilateral relations."
The meeting in Brasília follows Xi's participation in the Group of 20 (G20) summit in Rio de Janeiro earlier this week and the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru. Xi's prominent presence at these events underscored China's growing influence, particularly in contrast to the outgoing U.S. administration under President Joe Biden.
China has steadily increased its role as a key trade partner and investor in Latin America, a trend that observers predict may grow as the United States potentially adopts more protectionist policies under incoming President Donald Trump.
China's importance in Brazil’s economic landscape is evident, as it remains the country’s largest trading partner, with bilateral trade exceeding $160 billion in 2022.
President Lula, who assumed office in early 2023 after the tenure of far-right leader Jair Bolsonaro, has sought to rebuild Brazil’s foreign alliances. The deepening partnership with China represents a significant step in his efforts to reposition Brazil on the global stage.
The agreements signed in Brasília highlight shared interests between the two countries, including advancing trade, fostering technological innovation, and addressing environmental challenges, signaling a strengthened strategic partnership for the future.
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