Trade agreements between China and Brazil were signed by leaders of the two nations. Increasing investment and trade flows is the aim of the agreements.
The trade agreements come at a time when both countries are losing momentum of economic growth.
According to NY Times, Brazil's president, Dilma V. Rousseff, and China's prime minister, Wen Jiabao, agreed on the agenda of investments in sectors such as industrial, aviation, mining and infrastructure. This will try to encourage commerce between China and Brazil.
According to Chicago Tribune, Brazilian Finance Minister Guido Mantega said that manufacturing and sales from Embraer in China should experience a boost. Embraer is a Brazilian airplane maker and the company was once banned from making planes in China.
According to BBC, in the past there were concerns in Brazil that low-cost imported goods from China was hurting the local manufacturing industry. In the past Beijing has accused Brazil of trying to protect the local industry by raising taxes on goods that came from China.
The agreement was still signed regardless of the tensions described and Mantega said that China will continue to be a place to do business with.