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Imagine a scenario where two of the largest economies in the world intensify their trade relations, generating unprecedented opportunities for their industrial and investment sectors. This is exactly what is happening between Brazil and China, and the prospects for 2024 are surprising.
According to the acting President of the Republic, Geraldo Alckmin (PSB), the commercial partnership between Brazil and China has grown 7,4% from January to July 2024 compared to the same period in 2023. Alckmin believes 2024 will set a new commercial record between the two countries.
Participating via videoconference in the closing of the Brazil-China Business Council Seminar, held in São Paulo (SP), Alckmin emphasized the importance of advancing in the commercial and investment areas, with a special focus on the industrial sector.
“We want to neo-industrialize Brazil. There is no economic development without industry, there is no social development without industry. So, we want neo-industrialization and a densification of production chains,” he stated.
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Lula's role in expanding bilateral agreements
Meanwhile, the president Luiz Inácio Lula da Silva (PT) is in Santiago, Chile, for a state visit and the signing of several bilateral agreements. Lula plays a crucial role in expanding Brazil's relations with other nations, reinforcing the country’s strategic position on the global stage.
Opportunities with the New PAC
Alckmin revealed that Brazilian exports to China in the food, oil, iron ore and cellulose sectors are promising. Furthermore, he anticipated that the New Growth Acceleration Program (PAC) will bring many opportunities in the areas of infrastructure, logistics, transport and energy.
“The tax reform will boost the industry and bring more investments and exports, because it removes cumulativeness, so it completely exempts investments and exports”, stated Alckmin.
According to him, a study by the Institute of Applied Economic Research (Ipea) indicates that, in 15 years, the tax reform could increase the Brazilian Gross Domestic Product (GDP) by 12%, investments at 14% and exports at 17%.
Historic 50-year partnership between Brazil and China
Brazil and China celebrated 50 years of diplomatic relations, with China being Brazil's largest trading partner for 14 years. In 2023, bilateral trade totaled more than R$896 billion (US$157 billion), with a Brazilian trade surplus of R$291 billion (US$51,1 billion).
According to Agency Brazil, Alckmin highlighted that this partnership not only strengthens the Brazilian economy but also creates new opportunities for industrial development.
The Brazil-China relationship is an example of how international cooperation can generate mutual benefits and promote sustainable economic growth.
A new era for Brazilian industry
With tax reform and new investments, Brazilian industry is about to enter a new era of development. Alckmin reiterated the need to “neo-industrialize” Brazil to ensure robust and sustainable economic growth. The partnership with China is a fundamental step in this direction, providing the resources and market necessary for this transformation.
The relationship between Brazil and China is at a point of prospects for continued growth and new trade records in 2024. The partnership promises significant economic benefits, especially for the Brazilian industrial sector, thanks to tax reforms and new investments.
And do you believe that this partnership can be a model for other nations? How can this relationship impact the economic future of Brazil and China? Leave your opinion in the comments!
