China, Brazil Sign Two-Year Trade Action Plan as BRICS Ministers Gather in Shanghai
(Yicai Global) Aug. 2-- China and Brazil signed a two-year cooperation plan on services and trade in Shanghai during the 7th Meeting of the BRICS Trade Minters yesterday. BRICS the grouping of five major emerging and developing economies, namely, Brazil, Russia, India, China and South Africa. >
Wang Shouwen, vice minter of China's mintry of commerce and Marcelo Maia, secretary of Brazil's mintry of industry, foreign trade and services signed a "Memorandum of Understanding (MOU) on Service and Trade Cooperation between Mintry of Commerce, People's Republic of China and Mintry of Industry, Foreign Trade and Services, Brazil" (Two-year Action Plan), China News Service reported.
Based on the action plan and principles of equality and mutual benefit, both countries will strive to strengthen and develop cooperation on services and trade in the fields of building, engineering consulting, engineering construction, information technology, e-commerce and banking automation, tourm, culture and traditional Chinese medicine. China and Brazil will take turns to hold meetings of service and trade promotion working group, and strengthen mutual communication and interaction.
The mintry of commerce said the two-year action plan will serve win-win cooperation in services and trade for both countries, and will benefit BRICS members to reinforce service and trade cooperation. One of the key topics to be dcussed by the BRICS trade minters will focus on formulating a route map for service and trade cooperation among BRICS economies.
"We believe the cooperative agreement can play an important role in pushing Brazil-China trade development," Marcelo Maia said, "We are looking forward to achievements of th gathering."
The trade cooperation between China and Brazil develops fast. China the largest trade partner and destination country for Brazil's exports, while Brazil the largest trade partner of China in Latin America.