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China and Brazil sign agreement to expand scope of trade

Representatives of China and Brazil have signed an agreement to expand the scope of bilateral trade to include services as well as commodities and finished goods, the China Daily reports.

The newspaper says the agreement sets out actions to be taken in the next two years to spur trade in services in eight fields, including engineering, architecture, e-commerce, banking automation and tourism.

The report quotes an official of the Brazilian Ministry of Development, Industry and Foreign Trade, Marcelo Maia, as saying: “Signing this two-year action plan will help Brazil build a modern service sector, as well as create new e-commerce and financial activities to boost the economy.”

Chinese companies invested US$8.39 billion in Brazil last year, 13 percent more than the year before.

Brazil and China have already begun to co-operate more in the fields of infrastructure, energy and telecommunications business development, the newspaper says.