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Wu: China, Brazil Need to Upgrade Economic Ties
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Top legislator Wu Bangguo on Wednesday called for closer economic ties between China and Brazil, saying that the two countries are faced with precious opportunity to advance economic and trade cooperation.


"As key developing countries in the world, China and Brazil share broad common interests," Wu told Vice President Jose Alencar during their meeting.


Wu said China and Brazil are highly complementary in economy and enjoy great potential in expanding cooperation in the fields of mineral resources, infrastructure construction, science and technology and traditional trade.


Sources with the Chinese embassy in Brazil said that several agreements will be signed by Chinese and Brazil enterprises during Wu's visit, including Brazil's sale of 50 ERJ145s and 50 EMBRAER 190s to a Chinese airline company.


Wu said the signing of the economic and trade agreements shows the vitality of China-Brazil reciprocal cooperation and will benefit the two peoples.


To better coordinate bilateral cooperation, China and Brazil decided to set up a high-level coordination and cooperation committee in 2004. The committee had its first meeting last March in Beijing.


Wu said he hoped that the two countries would make full use of the committee to push bilateral economic and trade cooperation to a new level.


Alencar said the Brazilian government and people believe that it is important to develop relations with China and Brazil will continue to conduct effective cooperation with China in bilateral and international affairs.


Wu arrived in Brazil Tuesday afternoon for an official goodwill visit.


(Xinhua News Agency August 31, 2006)

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