Brazil Is Negotiating Free Trade Agreement with China

President Jair Bolsonaro and Economy Minister Paulo Guedes want to strengthen trade relations with China. Guedes said the creation of a free trade area between the two countries is under negotiation. The minister revealed this on Tuesday (13) during the seminar of the New Brics Development Bank (Brazil, Russia, India, China, and South Africa) in Brasilia. The federal capital is hosting the Brics summit. "We are talking to China about the possibility of creating the free trade area with China as well while talking about joining the OECD," said Guedes. He said he heard from the Chinese government that there would be no problem if Brazil sold even more to the Asian country. He also said he would have no problem with unbalanced trade with China. "I don't care if, in a surplus situation [of Brazil today] with China, we balance ourselves there, increasing exports by 50% and imports doubling or even tripling. What we want is even more integration, he said.