Brazil's Temer in China amid push for investment

Image
AP Beijing
Last Updated : Sep 01 2017 | 8:28 PM IST
Brazilian President Michel Temer is visiting China as his country seeks investments to shore up its flagging economy.
Temer met with Chinese President Xi Jinping in Beijing today ahead of next week's summit of BRICS nations in the southeastern Chinese city of Xiamen that also includes the leaders of Russia, India and South Africa.
Temer was greeted with full military honours by President Xi Jinping at the Great Hall of the People, the seat of the ceremonial legislature in the heart of Beijing.
In remarks at the start of their meeting, Xi noted that bilateral cooperation in trade, investment and finance has grown and pointed to new Chinese investment in Brazil in power, agriculture, infrastructure and other fields.
"The Brazil-China relationship has global strategic significance and the two countries should deepen their cooperation and proceed ahead in harmony," Xi said. "I fully concur with this and wish to endeavour with you to bring it to fruition."
Temer said before his departure that he saw China as a major investor in Brazilian airports, shipping terminals and other infrastructure.
Brazilian officials have also said they hope for Chinese technology and financial backing to finish the country's third nuclear power plant.
Temer has been seeking ways to revive the economy and help save his embattled presidency. China is also a huge market for Brazilian food and natural resource exports.
Following their meeting, Temer and Xi presided over the signing of 14 agreements in areas including film production, football, hydropower and railways. No monetary value for the agreements was announced.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 01 2017 | 8:28 PM IST

Next Story