Premier Li Keqiang tells business leaders that economies of China and Brazil are compatible

A ferryboat made in China was the setting for an informal gathering attended by Premier Li Keqiang and more than 20 Brazilian and Chinese business owners in Rio de Janeiro.

Bilateral cooperation on trade, the economy and production capacity were the main topics of the event, hosted by Li on board the Sugar Loaf Mountain ferry on Wednesday. The 2,000-passenger boat is named after one of Rio’s biggest tourist attractions.

The two countries’ economies are mutually compatible, Li said, with their respective strong points offering great potential for further cooperation.

He said the two governments are expected to “build platforms for enterprises from both sides, and financial institutions should provide financing support”.

The premier compared collaboration to a huge vessel. The vessel cannot “ride the winds and tides” for a long voyage without constantly examining how the two elements work together, Li said.

Zhou Zhiwei, a researcher in Latin American studies at the Chinese Academy of Social Sciences, said that cooperation on production capacity “will be feasible and sustainable”.

“China has accumulated experience and strength in its industrializing process, especially in infrastructure construction. Brazil is also now dedicated to making these industries more competitive,” Zhou said.

Li was later presented with the key to the city of Rio de Janeiro in a symbolic presentation by its mayor, Eduardo Paes. At the ceremony in the premier’s hotel, Li said that Chinese products such as metro trains and ships had been of immense benefit to the public and China always supported economic cooperation to boost development.

Yu Ya, president of CIMC Raffles, a Chinese deep-water offshore equipment designer and builder, is one of the entrepreneurs accompanying the premier’s Brazil visit.

With Li promoting China, “leading Chinese manufacturers will have better cooperation with Brazilian businesses”, Yu said.

Li also met with Rio de Janeiro Governor Luiz Fernando de Souza. China thanked the city for opening its doors to Chinese manufacturing exports, Li said.

Li also wished Brazil a successful Olympic Games in Rio de Janeiro in 2016. China will share its experience of hosting the Olympics with training personnel and an exchange of technology, he said.

For his part, De Souza said his state is looking forward to even more cooperation with China given its huge demand for infrastructure and equipment, ahead of and beyond the Games.