Brazil-China Strategic Partnership

Chinese President Xi Jinping visited Brasilia on November 20 for a state meeting with Brazilian President Luiz Inacio Lula da Silva.

The visit follows Xi's participation in the 19th G20 Summit in Rio de Janeiro, and 2024 marks the 50th anniversary of diplomatic relations between the two nations. This occasion highlights the enduring partnership and offers an opportunity to strengthen bilateral ties, foster cooperation, and explore new areas of mutual interest.

During the visit, 37 agreements were signed focusing on the integration of China-proposed Belt and Road Initiative with Brazil's New Growth Acceleration Program, Neo-industrialization Plan, Ecological Transformation Plan and South American Integration Route Plan.

The agreements outline plans for collaboration across a wide range of sectors, including industrial investment, bio-economy, ecological transition and green development, artificial intelligence, the photovoltaic industry, agriculture and livestock, mineral energy, tourism, health and sports.

Since 2009, China has been one of Brazil's most significant foreign investment sources, ranking as the fourth largest destination for Chinese investment abroad.

China has remained Brazil's largest trading partner and export destination for the past 15 consecutive years, while Brazil has long been China's top trading partner in Latin America. In 2023 the bilateral trade between the two countries reached USD 181.53 billion, up 6.1 per cent year-on-year.