Brazil And China Sign Agreement To Trade In Chinese Yuan


MEXICO CITY:According to Guo Tingting, the Chinese vice minister of commerce, on Thursday, China and Brazil have reached an agreement regarding bilateral trade in the Chinese Yuan and plan to expand their cooperation in the food and mineral extractions sectors.

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“Our trade is greatly facilitated by the signing of a yuan settlement agreement with Brazil. Guo was quoted by Brazilian newspaper Folha de Sao Paulo as saying, “We are planning to expand cooperation in the field of food and mineral extraction, and to search for a possibility of exporting goods with high added value from China to Brazil and from Brazil to China trade.”

On Wednesday, Brazil and China declared the foundation of a clearing house that would accommodate the settlements without utilizing the US dollar, as well as loaning in public monetary forms to work with and lessen the expense of exchanges and dispose of Dollar reliance in the reciprocal relations.

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According to reports, Brazilian President Luiz Inacio Lula da Silva may reschedule his trip to China from March 26 to April 13 in order to meet with Chinese President Xi Jinping. The Brazilian leader was recently diagnosed with pneumonia.

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