Spotlight: Chinese premier's call for upgrading cooperation convinces Brazilian entrepreneurs

Brazilian entrepreneurs voiced support to Chinese Premier Li Keqiang's call for upgrading bilateral economic ties via industrial capacity cooperation at Tuesday's China-Brazil business summit.

In his address, Li also pointed out the potential of a new, profitable cooperation pattern in the logistics, electricity and IT industries, supported by healthy interactions among businesses, communities and the government, in addition to expanded financing through funds, credits and insurance.

Li's insight was echoed by Thomaz Zanotto, vice-chairman of the Senior Committee for Foreign Trade under the San Paulo State Industrial Association.

Zanotto said the Brazilian industry is shrinking and becoming less competitive, with a heavy reliance on imported manufactured goods and a huge demand for funds to fix outdated infrastructure, whereas China boasts power.

Sergio Amaral, honorary chairman of the Brazil-China Entrepreneur Committee, agreed that bilateral economic ties are at a turning point that "they should go beyond such restrictions as trade only, investment in some areas only, or a specific project," and "become all-round," hence strategic.

Amaral said that the new idea of capacity cooperation would help "turn over a new page in the history" of Brazil-China economic ties.

"By means of investment, China's industrial capacity would find a new outlet in Brazil," he said, adding that the move would help boost Brazil's economy, bringing along also jobs and technology.

On Tuesday, Li signed agreements with Brazilian President Dilma Rousseff highlighting investments, which, according to the regional daily O Estado de Sao Paulo, would help accomplish infrastructure projects the Brazilian government was too cash-strapped to take on, as well as a proposed transcontinental railway.

The railway project impressed Eduardo Parente, head of the Brazilian logistics company PRUMO, very much as a comprehensive solution that would benefit Brazil and China both, with better transportation and logistics systems, and less export costs for Brazil, as well as a convenient trade route for China.

Li arrived Monday in Brazil for a visit. Brazil is his first stop of a four-nation Latin America tour, which will also take him to Colombia, Peru and Chile. Endi