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Chinese fever at CBBC reflects close economic ties

By Zhang Yu'an | China Daily | Updated: 2007-12-28 07:28

Chinese fever at CBBC reflects close economic ties 

Executive jets manufactured by Embraer, one of the world's largest civil airplane makers Zhang Yu'an

RIO DE JANEIRO, Brazil: Someone who is fluent in Mandarin can easily find a highly-paid job in this leading tourism city of Brazil.

A China-Brazil Business Council (CBBC) Brazilian Section staff member, who is fluent in Mandarin, has recently been headhunted by a Brazilian company, according to Rodrigo Tavares Maciel, executive secretary of the council.

Other staff members of the council are now under a tight schedule to learn Chinese.

This is just a reflection of the growing trade, investment and economic cooperation between China and Brazil, two leading developing countries in the world.

The CBBC Brazilian Section, a non-profit organization, has 35 members, including almost all the leading companies in the largest economy of Latin America, such as Embraer - a leading civil airplane manufacturer, Petrobas - a leading energy company, and Banco do Brasil - a leading bank.

"The main objective of our council is to enhance relationship, increase business and promote investment between business circles of the two countries," said Maciel.

Bilateral trade reached $20.3 billion last year, according to Chinese customs figures, making Brazil China's largest trade partner in Latin America.

By the end of June this year, Chinese investment in Brazil was about $100 million while Brazilian investment in China reached $210 million.

But the volume of bilateral investment is still small, compared with the size of the two economies, industrial insiders say.

Therefore, CBBC Brazilian Section urges Chinese enterprises to invest in Brazil in the primary commodities sector and in industries that consume large volumes of energy.

Maciel said he strongly believes that Brazil is a strategic partner for China to curb the price hikes caused by food price increases as the former has a well-developed agriculture.

Brazil is an open economy and its agribusiness offers a number of opportunities for Chinese firms, which can buy Brazilian agricultural products and export them to their own market, he noted.

In addition, he also cited energy, automobile, telecommunications, chemicals and paper industries as the sectors in which Chinese enterprises can develop a competitive edge in investment.

Admitting that labor costs and the tax burden in Brazil may be heavier than in China, Maciel pointed out that Brazil has a more globalized and diversified economy.

One major obstacle hindering the faster growth of trade and cooperation between the two countries is lack of information flow, he said, adding that his council plans to organize more events to promote such flow and boost trade and cooperation between the two nations.

(China Daily 12/28/2007 page20)

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