Minutes of the Seventh Plenary Session of the High-Level Sino-Brazilian Comission on Consultation and Cooperation (COSBAN)

Minutes of the Seventh Plenary Session of the High-Level Sino-Brazilian Comission on Consultation and Cooperation (COSBAN)

1. In accordance with the Memorandum of Understanding between the People’s Republic of China and the Federative Republic of Brazil on the Establishment of the Sino-Brazilian High-Level Consultation and Cooperation Commission (hereinafter COSBAN) of May 24, 2004, the seventh plenary session of COSBAN was held in Beijing on June, 6, 2024, co-chaired by Vice President Han Zheng and Vice President Geraldo José Rodrigues Alckmin Filho. The meeting took place in an atmosphere of friendship, understanding and mutual trust, laid the groundwork for building long-lasting strategic cooperation and strongly encouraged the expansion and deepening of bilateral cooperation in all areas. The names of the members of both delegations are listed in Annex I.
2. Vice President Han Zheng and Vice President Geraldo Alckmin celebrated the 50th anniversary of Brazil-China diplomatic relations and positively assessed the results achieved in the development of partner relations since the establishment of diplomatic relations, congratulated themselves highly on the important guiding role of the important COSBAN mechanism in its twenty years of existence and reaffirmed that under the strategic leadership of the two Heads of State COSBAN has actively coordinated comprehensive bilateral cooperation in all areas, has continuously consolidated and deepened the mutual strategic trust between the two countries and promoted the prosperous development of bilateral relations. The parties recognized that bilateral relations are at a historical new beginning. The parties agreed to take the seventh COSBAN plenary meeting as an important opportunity for implementing deeply the consensus of the two Heads of State, strengthening exchange and cooperation in all areas and levels, creating more pragmatic cooperation outcomes, and promoting economic development and building the well-being of the peoples of Brazil and China.
3. Vice President Han Zheng and Vice President Geraldo Alckmin reaffirmed the important role of COSBAN in implementing bilateral initiatives and push forward Brazil-China Global Strategic Partnership. The parties expressed their satisfaction on the results achieved during the implementation of the Strategic Plan 2022-2031 and the Executive Plan 2022-2026 and highly recognized the key role of the Joint Communiqué signed in April 2023 between the Federative Republic of Brazil and the People’s Republic of China on the Deepening of their Global Strategic Partnership in leading the development of Brazil-China relations. The seventh plenary meeting of COSBAN will further promote dialogue and exchange between the two governments, will effectively serve the diplomacy of the two Heads of State, promote coordination of strategies and deepen pragmatic cooperation, in order to encourage the mechanism to become deeper and more practical.
4. The parties positively assessed the progress of cooperation between Brazil and China in the fields of politics, economy and trade, finance, energy and mining, agriculture, sanitary and phytosanitary issues, science, technology and innovation, aerospace and aviation, industry and information technology, culture, education, health, environment and climate change. The parties agreed to create new areas and fields of cooperation based on traditional areas of cooperation; examine synergies between Brazil's development policies and investment programmes, including efforts in South American integration, and China's development policies and international initiatives, including the "Belt and Road Initiative"; accelerate the expansion of cooperation in new areas such as green economy, digital economy, clean energy, information technology, artificial intelligence; continuously explore topics for growing cooperation; and jointly plan the strategic visions of Brazil and China to achieve their development together.
5. The parties stressed the importance of economic and commercial cooperation in the consolidation and promotion of the Sino-Brazilian Global Strategic Partnership. They unanimously stated that in a challenging global scenario Sino-Brazilian trade positively surprised the market trend and broke a new record, highlighting the resilience of bilateral trade.  Both parties agreed to further promote trade facilitation, explore development potential and promote the growth of high-quality trade. China expressed its willingness to discuss dialogue on trade and cooperation with Mercosur. The Chinese side expressed its support for the expansion of exports of high-value-added products to China and welcomed Brazil's participation in events such as China International Import Expo (CIIE), China International Fair for Investment and Trade (CIFIT), China International Fair for Trade In Services (CIFTIS), Global Digital trade Expo and China Import and Export Fair. They agreed to continue promoting reciprocal investment flows, and encourage companies from both countries to invest in each other based on compliance with their respective interests and legislation. The parties will continue to implement the signed memoranda of understanding on cooperation in investments in the digital economy and sustainable development, and will strengthen cooperation in emerging areas, such as green economy, digital economy, energy transition, technological innovation and industrial cooperation.
6. The parties committed to oppose trade protectionism. With regard to their respective interests in the area of ​​commercial defense registered at the meeting of COSBAN’s Economic, Trade and Cooperation Subcommittee, the Chinese side made efforts to solve Brazil's concerns about the anti-dumping case regarding Brazilian chicken meat and expects the Brazilian side to implement the recognition of China's market economy status, drop the "surrogate country" approach in dumping investigations, put an end to the anti-dumping duty against garlic and prudently initiate trade defense investigations against China, including investigation of dumping, subsidies, among others. The Brazilian side pointed out that it conducts trade defense investigations in an impartial, judicious and technical manner, and welcomed the revocation of the anti-dumping duty previously imposed by China on chicken products from Brazil. The parties agreed to reinforce communication in the area of ​​trade defense, stimulate cooperation between the two countries' industries, promote constructive dialogue on topics of interest to the parties and create favorable conditions for bilateral economic and trade cooperation.
7. Both sides unanimously agreed that high-level exchanges are of great importance to the relationship between the two countries, and that they will make every effort to prepare President Xi Jinping's scheduled participation in the G20 Summit in Rio de Janeiro and his state visit to Brazil, actively examine the issue of raising the level of bilateral relations and build together the "next 50 golden years" in Brazil-China relations. Both parties positively evaluated the dialogue and coordination between the two countries in international organizations and multilateral mechanisms. China supports the Brazilian presidency of the G20, the Brazilian rotating presidency of BRICS and the holding of the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change in Brazil, both in 2025. The Brazilian side reiterated its firm support to the One China Principle. The Brazilian side will include public affairs passports in the Agreement on Visa Exemption for Holders of Diplomatic, Official and Service Passports between Brazil and China.
8.  Both sides acknowledged the growing role played by economic and financial cooperation and agreed to expand the use of local currencies in trade and investment, and intensify collaboration in sustainable finance. Both sides welcome the signing of the Memorandum of Understanding on Insurance Supervisory Cooperation and the amended Memorandum of Understanding Regarding Securities and Futures Regulatory Cooperation, will strengthen exchanges, cooperation and coordination on audit and supervision. Both sides are looking forward to the effective operation of the Brazil-China Cooperation Fund for the Expansion of Production Capacity for Sustainable Development to leverage commercial investment projects of mutual interest. Both sides support Shanghai Stock Exchange, Shenzhen Stock Exchange and B3 SA Brazilian Exchange and OTC to explore ETF’s connectivity. Both sides welcome with satisfaction the China-Brazil Financial Forum, successfully held within the framework of the Economic-Financial Subcommittee. Both sides will strengthen cooperation within multilateral frameworks, including the G20 Finance Track, BRICS, the World Bank, the International Monetary Fund (IMF), the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).
9. Both parties agreed to actively promote the strengthening of cooperation in the areas of: infrastructure construction of railways, airports and ports, among others, within the framework of strategic planning of programs such as New Industry Brazil and New Growth Acceleration Program and and promoting sustainable economic and commercial development through the construction of effective transportation infrastructure. Both parties recognized the importance of mutually beneficial cooperation in the aerospace area, welcomed the signing of the CBERS-5 declaration of intent for the joint construction of a geostationary meteorological satellite, agreed to actively promote the process of studying and manufacturing CBERS- 6 and implement the Aerospace Cooperation Plan between China and Brazil from 2023 to 2032.
10. The parties agreed to further strengthen exchanges on agricultural and social and rural development policies, promote scientific research institutions and companies from both countries to stimulate cooperation in science and technology, innovation and agricultural research and development, including cooperation in the treatment of plant diseases and pests, in order to continuously add value to bilateral agricultural cooperation.
11. The parties agreed to further promote the diversification of the trade composition, actively stimulating the expansion of exports of Brazilian products to China. The Brazilian thanked the Chinese decision to enable 38 new establishments to export meat to China in March 2024. The parties recognized the good cooperation carried out in the areas of customs inspection and quarantine, and committed to actively promote the consultation of protocols that support Brazilian exports of products such as sorghum, rice, products originated from extractive fishing, corn distillers grains, fish flour and fish oil for animal feed, among other products. The texts of the protocols for exports of Brazilian grapes and sesame to China are basically agreed upon. The Chinese side expressed interest in further expanding the registration of Brazilian establishments, and will approve the registrations, according to the procedures, of establishments that meet the requirements. The technical teams from both parties worked together to enable a Chinese audit in Brazil with a view to recognizing the entire Brazilian territory as free from foot-and-mouth disease, and the Chinese side will communicate the results of the assessment to the Brazilian side as soon as possible. The two parties will continue to promote negotiations to expand the scope of Brazilian exports of products of animal origin (by-products and bone-in meat) to China.
12. Vice President Han Zheng and Vice President Geraldo Alckmin analyzed the present international economic scenario and agreed that both countries have grown even as the global economy faces continuous challenges. They highlighted that the global economic scenario is undergoing profound and complex changes, the volatility of economic and financial markets is intensifying, the endogenous driving force of global economic growth is still insufficient and the external environment is becoming more complex, severe and uncertain. Faced with a complex global scenario, the two countries took measures to achieve sustained macroeconomic stability, continuously streamline the economic structure, expand the domestic demand, increase confidence, prevent and resolve risks, promote employment, expand trade and attract investment, providing important contributions to global economic development.
13.  The relationship between Brazil and China has withstood the test of complex changes in the international environment and maintains a healthy and stable development dynamic. The relationship between the two countries transcends the bilateral scope and demonstrates global influence. The two sides will continue to enhance cooperation and exchanges within multilateral organizations such as the United Nations, the World Trade Organization, the BRICS and the G20, and to strengthen collaboration in multilateral development institutions such as the World Bank and the New Development Bank. The two parties will work together to promote the G20 to play a greater role in promoting inclusive and beneficial economic globalization and implementing sustainable development goals.
14.  Both parties positively assessed the constructive role played by the Brazil-China Business Council in promoting exchanges and cooperation between the business, industrial and academic circles of both countries, and congratulated the China-Brazil Business Seminar held in the scope of the Seventh Plenary Session for its success in disseminating the relevant results and broad prospects for economic and commercial cooperation between the two countries. They hope that the Brazil-China Business Council will become an important platform to help companies from both countries to explore business opportunities and promote cooperation through further encouraging discussions, exchanges and promotions at various levels between the two sides, in order to help to steadily increase the level of China-Brazil trade and investment cooperation.
15. The Co-Chairs heard the reports of the activities of the eleven Subcommittees of the Sino-Brazilian High-Level Commission for Concertation and Cooperation (COSBAN) and of the Brazil-China Business Council. The Subcommittees on Politics, Economy, Trade and Cooperation, Energy and Mining, Culture and Tourism, Sanitary and Phytosanitary, Environment and Climate Change were presented by the Chinese side. The Subcommittees on Science, Technology and Innovation; Industry, Information Technology and Communication; Economic and Finance; Agriculture; and Space Cooperation were reported by the Brazilian side. The president of the Brazilian section of the Brazil-China Business Council presented the private sector activity report. The reports of the Subcommittees are included in the Annex II of this Minute.
16.  Both parties exchanged views on their main topics of interest. China mentioned: (1) the balanced development of Brazil-China trade; (2) the new future of the relationship between China and Brazil in the new era; (3) deepening the coordination of financial policies and pragmatic cooperation. Brazil mentioned: (1) Neoindustrialization – green, innovative and inclusive industry; (2) Sustainable and innovative agriculture; and (3) Investments in infrastructure in Brazil and cooperation in areas affected by extreme events. The statements of each party were commented on by the other side.
17. Vice President Han Zheng and Vice President Geraldo   Alckmin witnessed the signing of intergovernmental acts.
18. On behalf of the Brazilian side, Vice President Geraldo Alckmin thanked the Chinese government for organizing the meeting and extended an invitation to Vice President Han Zheng to visit Brazil at an appropriate time and preside over the eighth COSBAN plenary meeting. Vice President Han Zheng accepted the invitation.

Signed in Beijing on June 6, 2024, drawn up in two versions, in Chinese and Portuguese, both equally authentic.