China.org.cn:

Well, actually trade between China and Brazil has been growing very rapidly. In 2008 China became Brazil’s second biggest trading partner after the United States. Some analysts are now claiming that by 2010 China is going to become Brazil’s biggest trading partner. ¿What is the state of trade between the two nations and what are the major industries involved?

Hugueney:

China’s trade with Brazil has experienced an extraordinary development, especially in the course of last year. Trade between these two countries grew by more than 60%. That is perhaps one of the highest rates of growth of Chinese exports to any country in the world. So, due to this fact China became Brazil’s second largest trading partner. This year, in the context of the global crisis, trade is feeling the effect of the downturn. Exports and imports are falling. But in spite of this fact, and is spite of the fact that is going to be a very difficult year for trade, the exports from Brazil to China are still experiencing some growth. And we hope that we can maintain high levels of trade this year. We also believe that trade between our nations can become an important instrument in the recovery of both economies in the way that both economies can resist better the effects of the crisis. On the part of Brazil, our exports to China are more concentrated on oil, soy beans and some other agricultural products; there are few industrial products exported from Brazil to China. One major exception is airplanes. Brazil’s airplane company, EMBRAER, exports airplanes to China. Anyway, we hope to export more manufactured products to China.

China’s exports to Brazil are basically electronics, electric equipment, communications equipment, like cell phone parts. There are also products like textiles and shoes in which we have some frictions because of the growth of the Chinese exports of some of these more traditional products to Brazil and the competition that they generate to Brazilian industry. These frictions are normal, and in fact they are only a small proportion of the total trade between the two countries. We hope to continue the dialogue and to try to settle any remaining problems. We will have a meeting with the Chinese Commerce Minister to have a talk about our bilateral trade and see ways to avoid problems; and to keep the trade growing in 2009.