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Alckmin meets with Xi Jinping to conclude mission to China, securing over BRL 24 billion in credits for Brazil
Vice President Geraldo Alckmin with the Chinese President, Xi Jinping: bilateral partnerships strengthened - Credit: VPR / Disclosure
Brazilian Vice President and Minister of Development, Industry, Trade, and Services (MDIC) Geraldo Alckmin met with Chinese President Xi Jinping on June 7 in Beijing. The meeting concluded the four-day official Brazilian mission to China, which secured, among other things, BRL 24.6 billion (USD 4.49 BI) in credit concessions to Brazil. The VII Plenary Session of the Sino-Brazilian High-Level Coordination and Cooperation Commission (Cosban), co-presided by Alckmin, facilitated the approval of resources earmarked for infrastructure construction, including investments for the reconstruction of Rio Grande do Sul.
“We conclude this mission to China with very satisfactory results. We secured over BRL 24.6 billion in investments for various projects throughout Brazil, with a significant focus on the reconstruction of Rio Grande do Sul”, stated Alckmin. During his visit, the Brazilian Vice President showcased the Federal Government's commitment to sustainable development and environmental preservation, highlighting that Brazil is a stable country with a growing economy and has recently approved reforms, such as the new tax code, which facilitate investments in the country.
» Click HERE to access the list of the COSBAN results
RIO GRANDE DO SUL – Among the loans signed during the official mission, the memorandum of understanding (MOU) between the Ministry of Finance and the Asian Infrastructure Investment Bank (AIIB) stands out, guaranteeing up to BRL 5 billion (USD 940 million) for emergency support to Rio Grande do Sul [pt]. "I am confident that the state's reconstruction will surpass the destruction," stated Alckmin.
BNDES – The China Development Bank (CDB) will provide an additional BRL 4 billion (USD 750 million) in credits to the Brazilian National Bank for Economic and Social Development (BNDES) for infrastructure projects in Brazil focused on fighting climate change and promoting the green economy. Additionally, CDB and BNDES have reached an agreement for a BRL 3.6 billion (670 million) credit line to support BNDES investment initiatives.
BILATERAL – The Export-Import Bank of China (Eximbank) and Banco do Brasil (BB) agreed to a loan worth BRL 2.5 billion to bolster trade and bilateral cooperation. Concluding the investment roster, BNDES and AIIB penned a letter of intent to negotiate a fresh BRL 1.3 billion (USD 240 million) credit line.
BRICS - Also during Alckmin’s mission to China, a financing agreement of BRL 5.7 billion (USD 1.07 billion) from the New Development Bank (NDB), the BRICS bank, was formalized for Rio Grande do Sul. The agreement was signed by the Brazilian Vice President and Dilma Rousseff, president of the NDB.
COFFEE – Besides the BRL 24.6 billion (USD 4.49 billion) in credits, discussions initiated at COSBAN resulted in Alckmin's mission returning to Brazil with a signed agreement between ApexBrasil and China's leading coffee-shop network, Luckin Coffee. This agreement entails the export of 120,000 tons of Brazilian coffee, equivalent to USD 500 million. With this deal alone, Brazilian coffee exports to China are set to double compared to 2023.
VACCINES - Sinovac — known to Brazilians for Coronavac, one of the main immunizers used in Brazil against Coronavirus — will invest BRL 500 million (USD 96.7 million) to develop vaccines and immunizations in Brazil, in partnership with Fiocruz [pt].
COSBAN - The COSBAN plenaries, a sophisticated bilateral negotiation mechanism between Brazil and China, take place every two years; in 2026, the meeting will take place in Brazil. “COSBAN’s biannual meetings maintain open dialog channels between the two governments, providing space to deepen our partnership in a broad scope of projects”, said the Brazilian Vice President.
GROWTH ACCELERATION - Vice President Geraldo Alckmin was received by Chinese President Xi Jinping at the People’s Palace for his final official agenda in Beijing before returning to Brazil. "The COSBAN plenary meeting was a success," declared Alckmin during his meeting with the Chinese President, also attended by ministers from both countries. "President Lula has launched the Growth Acceleration Program (Programa de Aceleração do Crescimento - PAC), a significant infrastructure modernization initiative. I am confident that many Chinese companies will participate in this endeavor," said the Brazilian Vice Presiden
50 YEARS - Throughout the official mission, Alckmin and the ministers in the Brazilian delegation actively promoted the PAC to Chinese entrepreneurs and authorities, aiming to foster deeper integration between Brazil and China. During Alckmin’s visit to the People’s Palace, Xi Jinping emphasized that "China and Brazil are partners and brothers, advancing together with the same will and aspirations." This year marks the 50th anniversary of bilateral diplomatic relations. According to the Chinese President, "The China-Brazil relationship transcends the bilateral scope and serve as a paradigm for fostering unity and cooperation among developing countries, and global peace and stability."
G20 AGENDA - During the mission to China, the Brazilian Vice President emphasized the agenda of Brazil’s G20 Presidency, often mentioning the Brazilian commitment to energy transition, food security, and multilateral governance reform. There is synergy between Brazil and China in advocating and implementing these goals.
BUSINESSES - During the visit, Alckmin engaged in discussions with representatives of Chinese firms in the energy, automotive and pharmaceutical sectors, among others. Moreover, many Brazilian entrepreneurs took part in a business forum dedicated to enhancing bilateral relations between the two nations.
DELEGATION - The following ministers accompanied the Brazilian Vice President in the mission to China: Rui Costa (Chief of Staff) Simone Tebet (MPO), Carlos Fávaro (MAPA), Wellington Dias (MDS), Márcio França (MENP), and Paulo Teixeira (MDA). The delegation also included the presidents of ApexBrasil, Jorge Viana, and ABDI, Ricardo Cappelli.