Brazil and China in talks about talks about free trade

Brazilian Economy Minister Paulo Guedes has said Brazil and China are discussing whether to begin negotiating a free trade deal, Agência Brasil reports.

The Brazilian state-run news agency quotes Mr Guedes as saying the annual value of Sino-Brazilian trade has grown to about US$100 billion now from US$2 billion at the turn of the century.

Mr Guedes said on Wednesday that seeking a free trade deal with China is part of the opening-up of the Brazilian economy to the outside world.

The minister was speaking at a seminar on the New Development Bank, set up by the bloc comprising Brazil, Russia, India, China and South Africa (BRICS).

Brazil wishes to borrow from the bank and to learn how to build infrastructure as efficiently as China, Agência Brasil quotes Mr Guedes as saying.