Senior finance officials from China and Brazil agreed to step up financial cooperation in multiple areas and to advance the countries’ comprehensive bilateral strategic partnership at a meeting in Shanghai yesterday.
The Seventh China-Brazil Economic and Financial Sub-committee Meeting was held ahead of the Second BRICS Finance Ministers and Central Bank Governors’ Meeting and was co-chaired by Shi Yaobin, vice-finance minister of China, and his Brazilian counterpart Marcello Estevao, state-run Xinhua news agency reported.
Representatives from China and Brazil discussed macro-economics, structural reform measures, cooperation under G20 and BRICS frameworks, multilateral development bank collaboration, coordination of bilateral taxation policy, investment and financing as well as accounting and audit supervision. They reached multiple significant consensuses and pushed for practical financial policy cooperation.
The Economic and Financial Sub-committee is an important platform for strengthening communication and cooperation between China and Brazil, Shi said. China hopes to work with Brazil to jointly promote development and cope with challenges, drive and perfect global economic governance, and unleash bilateral investment potential.
China and Brazil are emerging economies and important members of the G20 and BRICS, said Shi. The two countries should explore financial collaboration prospects to prepare for the BRICS summit in September, he said.
There is a lot of potential for China and Brazil to work together, Marcelo said. As emerging markets and BRICS countries, the two nations have made contributions to the global economy, he said.
Brazil appreciates the coordination between the two sides in multilateral affairs, and expects complete success at the upcoming gathering in Xiamen, China in September.
Source: yicaiglobal.com
