Official trade statistics from the Brazilian or Chinese government or major financial news outlets

Xi and Lula Elevate China-Brazil Ties, Signing 37 Deals and Aligning Strategies on 50th Anniversary

Nov 20, 2024, 03:42 PM

Chinese President Xi Jinping arrived in Brasilia on November 20, 2024, for a state visit to Brazil, following his participation in G20 and APEC summits. He was welcomed with a grand ceremony at the Palácio da Alvorada by President Luiz Inácio Lula da Silva, featuring Brazilian drums and performances. The visit marks the celebration of 50 years of diplomatic relations between China and Brazil since 1974. During their meeting, the two leaders discussed strengthening bilateral relations and signed 37 agreements covering areas such as agriculture, trade, infrastructure, energy, technology, education, health, sports, tourism, and culture. Notably, they agreed to align China's Belt and Road Initiative with Brazil's development strategies. Both countries emphasized their commitment to peace and dialogue in addressing global conflicts, calling for ceasefires in Ukraine and the Middle East. President Lula stated that "China and Brazil put peace, diplomacy, and dialogue first," while President Xi highlighted their determination to "anchor our cooperation for the next 50 years." The leaders also stressed the importance of greater representation of emerging countries in global governance and agreed to deepen cooperation within BRICS. China has been Brazil's largest trading partner since 2009, with bilateral trade reaching a record $181.53 billion in 2023.