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  HOME | Brazil (Click here for more)

Brazilís Temer Pushes for Chinese Investment Ahead of BRICS Summit

BEIJING Ė The Brazilian President said on Saturday at a forum of entrepreneurs in Beijing that the South American country is on an economic growth track and offering incentives for foreign investment with privatization and reforms plans.

Brazil is getting back on the track of growth and is looking forward to working with Chinese entrepreneurs, Michel Temer said at a forum, where he addressed Brazilís economic evolution and the government plan to boost it.

Brazil is a land of opportunities, with the countryís GDP growing one percent in Q1 and 0.2 percent in Q2, leaving behind eight consecutive quarters of decline, according to Temer.

The Brazilian president said the country is going through measures and reforms, including a new model of concession and privatization that responds to the challenge of infrastructure growth.

He also stressed the new regulatory frameworks in the energy, mining and electricity sectors, and a plan for labor law reform to support investment.

The Brazilian president spoke about the social security pension reform, which seeks to ensure sustainability and is fundamental to the transparency of public accounts.

Bilateral trade was worth more than $58 billion in 2016, compared to $3 billion in 2001. China is Brazilís largest trading partner since 2009.

Brazil also aims to enjoy the growing number of Chinese tourists, Temer said, with the new visa offices opening for both tourists and businessmen from China.

Temer participated in the forum along with Chinese Vice Premier Wang Yang, who said in the speech that Brazil and China are closer than ever, with the growing political and economic relationship.

The Brazilian president is set to visit the southwestern city of Xiamen on Sunday, where the 2017 BRICS (Brazil, Russia, India, China and South Africa) summit begins in the afternoon and concludes on Tuesday.

 

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