On April 14, Zheng Shanjie, director of the National Development and Reform Commission of China, and Rocha, the executive vice minister of the Brazilian Ministry of Development, Industry, Trade and Services, signed the “National Development and Reform Commission of the People’s Republic of China and the Federative Republic of Brazil’s Development, Industry, Trade and Memorandum of Understanding of the Ministry of Services on Promoting Industrial Investment and Cooperation. In the next step, the two sides will, in accordance with the consensus reached, promote investment cooperation in the fields of mining, energy, infrastructure and logistics, manufacturing, high technology, and agriculture, and further strengthen the bond of economic cooperation between the two countries.

China-Brazil Cooperation MOU affect China Bauxite Import Market

Compared with suppliers such as Guinea, Indonesia, Malaysia, and Australia, Brazilian mines have no advantage in terms of price and transportation distance, which led to Brazil disappearing from China’s list of bauxite suppliers for a period of time. With the signing of the memorandum of cooperation between China and Brazil, the efficiency of bilateral trade between China and Brazil is expected to be improved. At the same time, based on the background of China’s strong demand for imported ore, the export of Brazilian bauxite to the Chinese market is within reach.