It is important to define Chinese guidelines that provide information on the priorities of their foreign investments, the acquisition of technologies and the guarantee of the supply of raw materials. In the case of Brazil, it is necessary to set priorities and rules for the entry of Chinese capital. In addition to the contribution of Chinese infrastructure investments, it is necessary to assess the potential of Chinese capital inflows in order to increase intra-firm trade and thus diversify the export programme. She currently coordinates foreign trade studies at the Brazilian Institute of Economics (IBRE) of the FGV and teaches as an associate professor in the Faculty of Economics of the State University of Rio de Janeiro. Research areas: foreign trade policy; international economic relations, trade agreements and international regulations. „Trade with the United States is a mix. In the past, it was much more based on industrial products, but this is down mainly because of oil. Brazil had a trade surplus with the United States. Today, however, it has a significant deficit. The U.S. market is imposing prices that Brazil is not able to offer,“ Castro said.
At the federal level, progress in Chinese trade and projects in the country is still supported by COSBAN, a binational ministerial committee set up as part of the strategic partnership between Brazil and China to facilitate cooperation, but whose use has been different in the various Brazilian administrations. During President Xi`s state visit to Brazil in December 2019, the two governments agreed to use COSBAN as a central coordination tool. The Brazilian government`s attention to the People`s Republic of China is likely to be reinforced by key members of the presidential cabinet. These include the recent appointment of Roberto Fendt as Deputy Minister of Economy for Foreign Trade and International Affairs. Fendt was the former executive secretary of the China-Brazil Business Council, the main trade and investment promotion body with the PRC. Fendt will compliment other senior Bolsonaro government officials in the face of China, including previously mentioned Vice President Hamilton Mourau, whose visit to the People`s Republic of China in May 2019 was best known for the vice president`s extremely positive tone toward China, praising it for its „global leadership“ and welcoming more investment from Chinese companies. Brazil and China are members of an economic organization called BRICS, which also includes Russia, India and South Africa.