The value of Brazilian exports to China grew to nearly US$29.82 billion in the first half of this year, 10.64 percent more than a year earlier, Xinhua reports.

The Chinese government-run news agency quotes Brazilian Trade and Investment Promotion Agency President Roberto Jaguaribe as saying so in an interview.

Mr Jaguaribe said Brazil would take an active part in the first China International Import Expo, to be held in Shanghai in November.

“China is a huge market with rapid economic growth,” he is quoted as saying. “Its initiative to actively expand imports will facilitate the global trade and benefit the global economy.”

Mr Jaguaribe said there was great potential for Sino-Brazilian co-operation, as more and more Chinese companies in the fields of energy, mining, agriculture and finance were doing business in Brazil.

The value of Chinese investment in Brazil was US$1.54 billion in the first half of this year, 161 percent more than a year earlier, Xinhua says.