Brazil, China Sign Agreement To Trade In Chinese Yuan - Vice Minister Of Commerce
Sumaira FH Published March 30, 2023 | 11:50 AM
MEXICO CITY (UrduPoint News / Sputnik - 30th March, 2023) China and Brazil have concluded an agreement on the bilateral trade in the Chinese Yuan and are planning to expand the cooperation in food and mineral extractions sectors, the Chinese vice minister of commerce, Guo Tingting, said on Thursday.
"An agreement on settling payments in yuan has been signed with Brazil, which greatly facilitates our trade. 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," Guo said at a business forum in Beijing, as quoted by Brazilian newspaper Folha de Sao Paulo.
On Wednesday, Brazil and China announced the establishment of a clearing house that would provide for the settlements without using the US dollar, as well as lending in national currencies to facilitate and reduce the cost of transactions and get rid of Dollar dependence in the bilateral relations.
Brazilian President Luiz Inacio Lula da Silva was set to visit China from March 26-31, but may reportedly reschedule the trip to the country to April 11-13 to meet with Chinese President Xi Jinping because the Brazilian leader was diagnosed with pneumonia last week.
Related Topics
Recent Stories
Higher taxes, awareness help decrease cigarettes sale in Pakistan
Sindh Minister of Works and Services Ali Hassan Zardari reviews ongoing projects ..
7 ordinances laid in Senate
Implementation of Naan, Roti's revised rates being ensured
Police attack case: ATC discharges PTI leader
Ahsan Iqbal chairs CPEC JWGs, 13th JCC review-meeting
Allama Iqbal gave Muslim Ummah a new dimension of thinking, hope: Dar
SNGPL takes action against 11 gas pilferers
Five numberdars dismissed in Jhang
Industries Minister recommends urea fertilizer import to stabilize prices and su ..
Honda announces US$11 bn EV battery and vehicle plant in Canada
CM lauds TCF's journey from 5 schools to 2000 across country
More Stories From World
-
Haiti transitional council sworn in after months of violence
49 minutes ago -
Ukrainian village battles mines year after Russia forced out
58 minutes ago -
China's Shenzhou-18 mission takes off bound for space station
49 minutes ago -
Thousands of flights scrapped as French air traffic controllers strike
52 minutes ago -
India's IndiGo to buy 30 A350 planes: Airbus
52 minutes ago -
Scottish leader scraps coalition deal with Greens
58 minutes ago
-
Paris landmark Moulin Rouge's windmill sails collapse
1 hour ago -
155 killed in Tanzania as heavy rains lash East Africa
1 hour ago -
Heatstroke kills 30 in Thailand this year as Southeast Asia bakes
49 minutes ago -
China's Shenzhou-18 mission takes off bound for space station
49 minutes ago -
Car giants vie for EV crown at Beijing's Auto China show
48 minutes ago -
US economic growth slows significantly in first quarter
1 hour ago