Chinese and Brazilian trade ministers Monday agreed that the two countries will work together to fight against escalating trade protectionism.
Shi Guangsheng, minister of Foreign Trade and Economic Cooperation, said during a meeting with Sergio Silva Do Amaral, Brazil's minister of Development, Industry and Commerce, that the two countries should make joint efforts to curb the rising tendency towards trade protectionism which adversely affects them both.
Trade protectionism becoming a tidal wave
"Trade protectionism is becoming a tidal wave as the world economy becomes bogged down with difficulties," Shi said. " Advanced economies which once preached free trade are now undermining free trade."
China is one of the countries hardest hit by protectionism, Shi said. China and Brazil, both developing countries, share many similar interests and views, and have a common responsibility to ensure a fair and open world trading system.
Two countries will strengthen cooperation
"Our two countries should strengthen cooperation on multilateral issues like our role in the World Trade Organization (WTO) and the new round of WTO talks with the aim of safeguarding the development of free trade," Shi said.
Amaral said he agreed with Shi's view. Brazil is also a victim of protectionism and hopes to strengthen cooperation with China and to promote the development of world trade, he said. He suggested that delegates from the two countries in Geneva keep closer contact and cooperation on the matter.
The Brazilian minister said his country also hopes to expand trade and economic cooperation with China in areas such as space, civil aviation, steel, electric appliances, passenger vehicle manufacturing, agriculture and tourism.
Trade relations between two countries will rise
Shi said that there exist great potentials for more trade and cooperation between the two countries. Bilateral trade worth 3.2 billion U.S. dollars is not sufficient considering the friendly relations between the two countries, he added.
Shi expressed his hope that the two sides will continue their efforts to solve bilateral trade problems and increase mutual investment and technological cooperation.
The Brazilian minister who arrived here on Sunday is scheduled to visit Shanghai, where he will preside over the opening ceremony of the "Brazilian Commodities Fair."