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World

Brazilian president to visit China April 13-15

Published Updated

 BRASILIA: Brazilian President Dilma Rousseff will visit China April 13-15, first in a bilateral capacity then to take part in a BRIC summit, her foreign minister, Antonio Patriota, told state television Friday.

"The relationship with China is increasingly important for Brazil," he said.

China is Brazil's principal trading partner and top foreign investor, buying up iron ore, soya products and other raw materials to fuel its dynamic economy, and extending credit to get privileged access to Brazilian oil.

The demand largely underpins Brazil's own economic performance, though unease is building over foreign exchange policies which have seen Brazil's currency, the real, soar against the US dollar and the Chinese yuan.

Also, although Brazil currently enjoys a $5 billion trade surplus with China, the bulk of that comes from a recent spike in prices for iron ore exports, concealing the fact that a flood of cheap Chinese imports is undercutting Brazilian manufacturers.

Rousseff, who took over from her mentor Luiz Inacio Lula da Silva last month, will start her visit with a one-day round of bilateral meetings on April 13.

The following two days will be spent participating in the BRIC summit, which this year for the first time will see South Africa joining Brazil, Russia, India and China at the table.

Patriota said Brazil and China were coordinating with each other on international issues, notably on World Trade Organization negotiations and environmental matters.

He downplayed Brazilian industry's concerns over Chinese imports, saying "trade with China is extremely beneficial for Brazil, as it is for many South American countries generally."

But he added: "That does not exclude us examining specific sectors and seeking to improve the quality of this trade."

Copyright AFP (Agence France-Presse), 2011

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