President Xi calls for boosting China-Brazil ties

World Today

In Brazil, Chinese President Xi Jinping has called for the bolstering of economic ties between the two nations. Heralding 40 years of diplomatic ties President Xi also called for more cooperation on the international stage and is pushing for more rights for developing countries. CCTV’s Nathan King has more.

President Xi calls for boosting China-Brazil ties

President Xi calls for boosting China-Brazil ties

In Brazil, Chinese President Xi Jinping has called for the bolstering of economic ties between the two nations. Heralding 40 years of diplomatic ties President Xi also called for more cooperation on the international stage and is pushing for more rights for developing countries. CCTV's Nathan King has more.

Signing a flurry of deals before heading to Argentina, Chinese President Xi Jinping — with his Brazilian counterpart- highlighted just how much trade flows between the two. Several concrete deals have been cemented in this visit including the sale of 60 planes made by Brazil’s national champion Embraer. President Xi has also floated a plan to build a regional railway system in partnership with Brazil and Peru.

He met with new leaders from the Community of Latin American and Caribbean States or CELAC ( SEA-LAC) which includes Raul Castro from Cuba as well presidents of Venezuela, Costa Rica, Ecuador, and prime minister of Antigua and Barbuda.

Highlights of China-Brazil deals signed during Chinese President Xi Jinping’s visit :

  • Chinese companies agreed to buy 60 Brazilian Embraer E190 passenger airplanes worth a total of $3.2 billion.
  • The two countries also reached agreements to cooperate in railway projects running across the South American continent.
  • China’s Eximbank extended a $5 billion credit line to Vale to buy or lease ships and shipping equipment from Chinese companies.
  • Bank of China (BOC) and Vale signed a Memorandum of Understanding for cooperation and global financing arrangements under which BOC would be able to provide up to $ 2.5 billion in financing services in the form of syndicated loans, bilateral loans, export credit, trade finance, among other cooperation initiatives.
  • Chinese President Xi Jinping and Brazilian President Dilma Rousseff launched the Portuguese-language version of China’s Baidu Internet search engine.