MercoPress. South Atlantic News Agency

In 23 years bilateral trade between Latin America and China soared 35 times

Brazil remains the main trade partner of China in the region and in a very special year, when the two countries are commemorating the fiftieth anniversary of diplomatic ties

Trade between China and Latin American countries surpassed US$ 480 billion in 2023, compared to a mere US$ 14 billion back in 2000, based on data from the Customs Administration of the People’s Republic of China (AGA) and the UN Economic Commission for Latin America and the Caribbean, ECLAC.

The new milestone in bilateral goods trade with China, with a 35 fold jump, marks another significant step in the growing influence of the Asian giant, even when the trade balance remained relatively stable, with a slight surplus in favor of Latin America amounting to some US$ 2 billion.

Brazil remains the main trade partner of China in the region and in a very special year, particularly when the two countries are commemorating the fiftieth anniversary of diplomatic ties, points out Folha de Goias.

And on the occasion a record-breaking total of 38 Brazilian cold storage facilities have received authorization to export meat to the Asian powerhouse, as announced by the General Administration of Customs of China (GACC).

The newly accredited facilities encompass a remarkable variety of establishments, including eight chicken slaughterhouses, 24 beef slaughterhouses, a beef thermo-processing plant, and five warehouses. This expansion marks a substantial leap forward in bilateral trade, with specialized units now catering beef, pork, and chicken exports.

The assessments for these accreditations were conducted through an innovative approach, involving remote inspections in January of this year and on-site evaluations in December of the previous year, all conducted in collaboration with representatives from the Brazilian Ministry of Agriculture and Livestock (Mapa).

Carlos Fávaro, Brazil's minister of Agriculture and Livestock, underscored the significance of this milestone for the two countries, labeling it as a historic moment for Brazilian agriculture and commercial relations. Fávaro emphasized the mutual benefits, including quality meat at competitive prices for China and the potential for job creation and economic advancement in Brazil.

This means China continues to solidify its position as the primary destination for Brazilian meat exports, having imported 2.2 million tons in 2023, totaling over US$8.2 billion. The approval of these new facilities for export is a direct outcome of the Chinese government’s decision and Brazil's ongoing efforts to meet high standards and promote its production units.

Roberto Perosa, Secretary of Commerce and International Relations, underscored the pivotal role played by the negotiations led by Carlos Fávaro, together with collaboration efforts from the Ministry of Foreign Affairs and the agricultural attachés at the Embassy in Beijing.