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China Brazil trade hits US$12b in 6 months
Bilateral trade between China and Brazil hit US$12 billion in the first half of this year, up 30.1 percent from last year, the Chinese Ministry of Commerce said on Sunday.
This broke down into US$4.54 billion of exports and US$7.46 billion of imports, up 38.5 percent and 25.5 percent respectively, said assistant minister Chen Jian.
Brazil is China's largest trade partner in Latin America, he told a seminar on Sino-Brazilian trade during the 11th China International Fair for Investment and Trade that opened Saturday in Xiamen, a port city in East China's Fujian Province.
He said China is Brazil's third largest trade partner and export destination as well as its second largest source for import.
Trade between the two countries was valued at US$20.3 billion last year, according to the Chinese customs.
By the end of June this year, China had invested nearly US$100 million in Brazil, largely in mining, telecommunications, trade, services, lumber processing and assembly lines of household electric appliances.
Meanwhile, Brazil's actual investment in China had hit US$210 million, most of which went to manufacturing, real estate and hydropower industries, said Chen.
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Free trade talks focus on market access
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Market access issues will be on the top of the agenda of the sixth round of free trade talks between China and Australia in September, said China's Vice-Minister of Commerce Yi Xiaozhun on Friday.
Substantial progress could be made during the talks that would focus on cargo trade and farm produce, said Yi.
In the just-concluded fifth round of talks in Beijing, the two sides agreed on the basic framework of a China-Australia Free Trade Zone Agreement.
The talks were initiated at the China-Australian Economic and Trade Cooperation Forum in Sydney in May last year.
From www.chinadaily.com
