The 7th Plenary Session of the Sino-Brazilian High-Level Concertation Commission (Cosban) convened on June 6, co-chaired by Brazilian Vice President Geraldo Alckmin and Chinese Vice President Han Zheng. This meeting, occurring as Cosban approaches its 12th anniversary in 2024, underscores the robust and enduring relationship between Brazil and China, particularly regarding economic partnerships and initiatives like Brazil’s New Growth Acceleration Program, known as Novo PAC.
Both Vice Presidents emphasized the stability and predictability of Brazil-China relations amidst global uncertainties. Alckmin highlighted this, stating, “At a time of great international instability, with armed conflicts taking place in various regions of the planet, Brazil-China relations remain characterized by predictability and stability.” Zheng echoed this sentiment, stressing the importance of peace and development in a turbulent global landscape. Beyond geopolitical discussions, a key focus was the upcoming 50th anniversary of Sino-Brazilian relations in 2024 and the deepening of economic cooperation.
A significant aspect of the session was Brazil’s invitation to Chinese companies to actively participate in the modernization of Brazilian infrastructure. Vice President Alckmin specifically welcomed Chinese investment and urged companies to contribute to the Novo PAC program, a cornerstone initiative of President Luiz Inácio Lula da Silva’s administration. “I invite all Chinese companies to join the effort to modernize Brazil’s infrastructure, which is the New PAC,” Alckmin stated, directly appealing to businesses looking for international expansion and investment opportunities. This invitation signals a clear pathway for Companies Partnering With Brazil Novo Pac to engage in substantial infrastructure projects.
Han Zheng affirmed China’s commitment to this bilateral relationship, noting the mutual support and win-win cooperation that has defined Sino-Brazilian ties. “Under the strategic guidance from the heads of state of both our countries, we have consistently supported each other on vital interests and strengthened our win-win cooperation, mutual trust and strategic communication, forming a new paradigm of mutual benefit,” Zheng remarked. This foundation of mutual trust and strategic communication is crucial for companies considering partnerships within the Novo PAC framework.
The Cosban session also served as a platform to acknowledge China’s solidarity with Brazil during the Rio Grande do Sul environmental disaster. Alckmin conveyed President Lula’s gratitude for this support, further solidifying the positive diplomatic and cooperative spirit between the two nations. Looking ahead, Brazil aims to leverage its G20 presidency and upcoming BRICS Summit and COP30 hosting to advocate for multilateralism and global governance reform, agendas that resonate with both Brazil and China.
Over its two decades, Cosban has played a pivotal role in shaping and coordinating cooperation across various sectors, fostering the robust growth of Brazil-China relations. This enduring mechanism provides a structured avenue for companies partnering with Brazil Novo PAC to navigate and engage with Brazilian infrastructure projects effectively.
Several agreements were formalized during the 7th plenary session, highlighting diverse areas of cooperation:
- Support for Micro and Small Enterprises: A Memorandum of Understanding focused on public policies for micro and small enterprises, aiming to bolster this vital sector in both economies.
- Agricultural Trade Facilitation: A protocol concerning health and quarantine requirements for pecans, streamlining agricultural trade between Brazil and China.
- Investment Fund Enhancement: An agreement to enhance the China-Brazil Cooperation Fund for Sustainable Development, seeking to improve bilateral investment cooperation and project identification.
- Technological Collaboration: A Declaration of Intent for the joint construction of a geostationary meteorological satellite (CBERS-5), signifying advanced technological partnership.
- Financial Sector Cooperation: Memoranda of Understanding to deepen cooperation in insurance supervision and securities regulatory cooperation, strengthening financial market ties.
- Visa Exemption Expansion: Extension of visa exemptions to holders of Chinese Public Affairs Passports, facilitating easier travel and exchanges.
In conclusion, the 7th Cosban Plenary Session reinforces the strong economic and strategic alliance between Brazil and China. The explicit invitation for companies partnering with Brazil Novo PAC to participate in infrastructure modernization, coupled with the signed agreements, presents concrete opportunities for international businesses. As Brazil advances its Novo PAC program, the established framework of Cosban and the deepening Brazil-China relationship offer a stable and promising landscape for collaborative ventures and investments in key Brazilian infrastructure projects.
