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China, Brazil sign agriculture deal
Seeking to increase its already robust agricultural export base, Brazil signed an agreement with China on Monday to strengthen the two countries' cooperation in farm technology and sanitary regulations. The accord was formalized during the visit of Chinese Vice-Prime Minister Hui Langyu to the Brazilian capital. Under the agreement, the two countries will form a committee to analyze their farm legislation and try to eliminate trade barriers. Amid difficult negotiations with the U.S. and Europe over agricultural trade, Brazil is betting that it can increase its exports to Asia through China. ``In the next 20 years, 400 million Chinese will likely migrate to cities from rural areas,'' said Brazilian Agriculture Minister Roberto Rodrigues. ``That will increase the demand for food products.'' China is the third-largest importer of Brazilian products and the largest importer of Brazilian farm goods. The farm sector is a key component of Brazil's economy and accounts for about 40 percent of the country's gross domestic product. The accord signed Monday is the first of several that are possible this year. Brazilian President Luiz Inacio Lula da Silva is scheduled to visit China for
further talks in May. Among several accords in the works, Brazil and China have
been preparing further cooperation through petroleum exploration and technology
agreements. |
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