Su ering rom the economic slowdown o its traditional trading partners American and Argentine, Brazilian President Luiz Inácio Lula da Sil a arri ed yesterday in Beijing to ind, in China, relays or business growth in his country prepare to con ront a se ere recession in 2009. 200 Businessmen o the o icial delegation will try during their three-day isit, to secure new contracts with China was imposed, or the irst time, the month last as the irst commercial partner o the Brazil.
In April, the two countries ha e traded or goods $ 3.2 billion when bilateral trade between the US and the Brazil was limited to $ 2.8 billion. The irst our months o 2009, Brazilian exports to China, which already records the beginning o economic reco ery, e en increased 65 to a total amount o $ 5.6 billion.
To compensate or the current o ercautiousness o Western groups, Brazilian leaders including hope to con ince their counterparts to in est more in their countries and make them promise a pri ileged access to the natural resources that China's growth has both need. Since the month o ebruary, the State Petrobras oil company, which launched an in estment plan o 174 billion o er i e years, is thus seeking a loan rom the China De elopment Bank, a public bank inancing most o the major energy projects in Beijing abroad. "The negotiated original loan was or $ 10 billion, but it would seem that he could get up to $ 15 billion", explained yesterday e ening Zhou Zhiwei, a researcher at the Academy o Social Sciences in Beijing. In exchange or these credits, the re iner Sinopec could guarantee deli eries o 60,000 to 100,000 barrels o crude per day by Petrobras when other Chinese Giants Petrochina, Unipec and Sinochem sécuriseraient, them, between 100,000 and 200,000 additional barrels.
A dramatic agreement would celebrate the two capitals but could also alert the Brazilian experts already concerned about too much segmentation o bilateral trade with China. While the Brazil buy products inished in Chinese companies, more than 70 o Brazilian exports to China are composed exclusi ely o soybeans, ore steel and oil. "We must di ersi y our exports to China and we must gi e alue added to our goods," warned a ew days ago, Welber Barral, the Brazilian Secretary or international trade.
During its discussions, now, with President Hu Jintao, President Luiz Inácio Lula da Sil a should ad ocate or a better opening o Chinese markets to Brazilian bee producers who ha e seen their exports to China collapse 85 million in 2005 to $ 1.9 million last year. It will also ask Beijing to buy more o its aircra t manu acturer Embraer aircra t.
To con ince his interlocutors, the Brazilian President could propose, as he did last ebruary, to initiate bilateral trade does not use the dollar as reser e currency. According to the head o State, charged in yuan or real contracts would reduce importers but also exporters transaction costs. This idea, ery complicated to put into practice, should enjoy Beijing which has recently launched a iolent campaign against the hegemony o the dollar in international trade.