MercoPress. South Atlantic News Agency

China and Brazil confirm closer trade and investment ties

Rousseff said Brazil hopes to enhance cooperation with China in such areas as oil and gas, new energy, satellite and information technology

Chinese President Xi Jinping met his Brazilian counterpart Dilma Rousseff in Australia on the sidelines of the G20 summit, calling for substantial progress in China-Brazil railway cooperation and further expanding trade and investment.

 The relationship between China and Brazil has a promising future, Xi told Rousseff in Brisbane, noting that he and Rousseff reached broad consensus on deepening bilateral cooperation in all fields during his July visit to Brazil.

Both sides should continue to work together to achieve more results in bilateral cooperation and promote trade facilitation and liberalization, said Xi, calling for early progress in building freight rail, high-speed rail in Brazil and a transcontinental South American railway connecting Brazil and Peru.

“China is ready to enhance coordination with Brazil in multilateral mechanisms, promote solidarity and cooperation among BRICS countries and rise up to the challenges such as climate change with Brazil”, Xi said.

President Rousseff said Brazil also hopes to enhance cooperation with China in such areas as oil and gas, new energy, satellite and information technology, adding that her country is willing to actively promote Latin America-China cooperation.

The Chinese president hoped Brazil will actively support and participate in the first ministerial meeting of a China-Latin America forum to be held in Beijing next year.

For her part, Rousseff said Brazil attaches great importance to Xi's proposal and China's measures of developing the Brazil-China comprehensive strategic partnership.

The Brazilian president welcomed China's participation in building Brazil's high-speed rail, and hoped to set up a working team for the transcontinental South American railway at an early date.