Another interesting fact is that the two nations are still discussing “a protocol” for exporting Brazilian soy and cotton meal. On the one hand, Brazil is China’s main soybean supplier but on the other hand, Brazil has struggled to increase trade in soymeal with the Asian country.
I would like to mention briefly that China is willing to increase its imports of agricultural and industrial goods from Brazil in order to enhance bilateral trade. In general, Brazil and China are part of BRICS, a grouping of major emerging economies that also includes Russia, India and South Africa. China has said BRICS countries must strengthen their unity, increase cooperation and uphold multilateralism.
Allow me to conclude by highlighting the fact that that bilateral trade between China and Brazil have been fruitful and mutually beneficial, reaching a record $ 100 billion in 2018. China and Brazil should further enhance their economic and trade relations.
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