China’s investments in Brazilian export products – including forestry, other agribusiness and food – have increased significantly over the past decade, new research suggests.

The latest edition of the Panorama Internacional of the Foundation of Economics and Statistics (FEE) shows that Chinese investment in Brazilian exports totalled $51.7 billion between the years 2005 and 2016, reports.

In their report researchers Sergio Leusin Jr and Robson Valdez outlined the relationship between the Latin American and Asian “giants”, noting how China has become Brazil’s lead partner in agribusiness exports as the world’s number one exporter of rice and tobacco.

China, too, is the second largest producer of wheat and corn and the fourth largest in soy. Brazil is the world’s second largest producer of soy, after the US.

“Since 1974, when Brazil relaunched its diplomatic relations with the Popular Republic of China, the Asian country became the principal destination of Brazil’s exports, competing with the European Union, Latin America, and the Caribbean,” Valdez commented.

What’s more, Leusin said Brazil’s public and private agribusiness sectors must pay attention to China’s economy. The country could well learn important lessons for growing its economy by looking at China’s example of guaranteeing its food security and self-sufficiency over the years.

“Brazil, an indispensable commercial partner for China, needs to have a profound knowledge of the rural reality of the Asian country,” said Leusin. China’s mistakes will lead to Brazil’s advantages, the researcher added.

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