Free Trade Agreement Brazil China

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It is clear that a review of the feasibility of such an agreement, as well as the definition of the rules of origin and related product tariffs, must be carried out. Nevertheless, there is sufficient substance between Mercosur, China and their existing agreements to give credibility to the potential of such an alliance. He said he heard the Chinese government say there would be no problem if Brazil sold even more to the Asian country. He also said he would have no problem with unbalanced trade with China. Achieving this growth requires planning and innovation on the part of the countries concerned. It is reasonable to expect this to include the promotion of free trade agreements. To this end: China is a leading player in the Belt and Road Initiative, Brazil with its influence and its membership in Mercosur is a leading partner in the South American region, Russia has a similar role in the development of the Eurasian Economic Union, India has a leading role within the South Asia Free Trade Area (SAFTA) , while South Africa is an important strategic partner in the Southern African Development Community (SADC). Formal relations with the Republic of China ended after the Chinese civil war (1945-1949) and did not resume with the People`s Republic of China until 1974. [3] In the 21st century, Brazilian businessmen were somewhat frustrated by what the Financial Times described as a slow pace of development for some aspects of the relationship.

For example, in 2004, Brazil officially recognized China as a market economy, but until 2009, the corresponding changes to trade agreements were not implemented. However, agreement had been reached on a wide range of issues and an excellent personal relationship had been established between the presidents of the two countries. In 2010 the second BRIC summit was held in Brazil, which presented proposals to strengthen cooperation between Brazil and China on political and trade issues, as well as on issues related to energy, mining, financial services and agriculture. [5] [6] However, to strengthen Mercosur, Uruguayan Finance Minister Danilo Astori said that «every Mercosur country should have a large number of accessions. Mercosur must have a common international policy, a moderate protection agreement against third parties and, above all, agreements with other trading blocs. In 2010, despite generally friendly and close relations, Brazil was one of the few emerging economies to publicly criticize China`s monetary war policy. Brazil has asked China to allow a faster appreciation of its currency, which would help other countries better compete with Chinese exports. Brazil also criticized U.S. policy and said that both China and the United States should try to avoid escalating economic tensions on trade and currency. [17] [18] China is Uruguay`s largest trading partner and buys 27 per cent of Uruguay`s exports.

Uruguay wishes to deepen these relations by strengthening cooperation in several other areas in addition to trade, while providing attractive conditions for Chinese investors, particularly in the infrastructure sector.

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