Location: Home > Information > Latest News

Chinese companies play vital role in Brazil's growing economy

Source:   Time:

RIO DE JANEIRO, Oct. 26 (Xinhua) -- Brazil's booming domestic market and its growing importance in global economy have attracted a number of foreign companies to seek opportunities in the country, including Chinese ones.

Trade between Brazil and China has prospered in recent years, as Brazil tried to reduce its dependency on the developed world's products during the chronic financial crisis.

Bilateral trade volume has skyrocketed since China surpassed the United States to become Brazil's largest trading partner in 2009. In 2011, Brazil's exports to China reached 44.3 billion U.S. dollars and imports were up to 32.7 billion dollars.

In the first nine months of 2012, trade between the two countries reached 57.3 billion dollars.

Chinese products ranging from cars to cell phones are available in the markets of Brazil's big cities.

Chinese companies that decided to invest in Brazil's expanding domestic market include car manufacturers JAC and Chery, oil giant Sinopec, and cell phone maker ZTE. The Bank of China has also set up offices in Brazil's largest city Sao Paulo.

Besides, Lenovo computers have become increasingly popular and are easy to find in the country, and Sinotruk, China's largest manufacturer of heavy trucks, has recently announced the construction of a factory in the country's southern region.

More job opportunities have been created in the local market by these Chinese companies, which have hired thousands of Brazilian workers.

Blanche Marian and Edicleis Almeida, local employees at the Brazilian branch of oil giant Sinopec, said working at a Chinese company needs some adjustments as "the cultures are different."

They said Chinese companies work with a much more centralized structure and Chinese workers tend to have a more personal relationship with the company. Meanwhile, communication also poses a problem sometimes.

However, "they are very attentive when we have a different opinion," Almeida said. "They are open to what we have to say."

Chinese companies from various sectors have already settled in Brazil,and given the country's still expanding market, more Chinese companies are likely to keep on coming.

"I think it is a long-term investment," Marian said.

They said the presence of Chinese companies will grow in Brazil, becoming increasingly important to the country's economy.

"The Chinese economy is essential for the world. When one talks about a globalized world, one cannot forget China. And their importance is as big for Brazil as it is for the world," Edicleis said.

[Relative Articles]

Copyright Reserved 2010 © South-East Asia & South Asia Infoport  | Filing Number:ICP 09005773
Technical Support:China Basalt Software Technology Co., Ltd.