China set to increase investment in Brazil
Date added: 20th May, 2011 at 10:18
(view all articles from May, 2011)
Categories: Economy
China has announced it is going to increase its investment in Brazil.
Earlier this week, Chinese trade minister Chen Deming and a number of delegates visited Brasilia to meet with officials.
This follows Brazilian president Dilma Rousseff's recent trip to the Asian country.
Reuters reports that over the past year, China "surged" to become the biggest direct investor in the South American nation, concentrating on commodities.
However, Mr Deming said his country is now keen to look into infrastructure, especially as the Brazilian economy is currently growing so well.
"We have the intention and the will to broaden our investments, in infrastructure, green technology, high-technology and tourism. We had deeper discussions," he stated.
Chinese firms are considering investments of $1 billion (£615 million), according to the minister.
Speaking to Dow Jones Newswires recently, president of the China-Brazil Business Council Sergio Amaral said he believes the visit will be "positive" for the two countries.
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