Brazil and China Confirm Agreements of Over US$53 Billion; Petrobras To Be Boosted

05/20/2015 - 09h44

On Tuesday (19), President Dilma Rousseff hosted Chinese Prime Minister, Li Keqiang at the Presidential residence where they signed 35 bilateral agreements on planning, infrastructure, trade, energy, mining and others worth more than US$ 53 billion, according to Brazilian government.

Rousseff will travel to China in 2016 to further narrow the relationship between the countries.

The agreements to finance Petrobras projects are worth at least US$ 7 billion.

As Folha reported on Monday (18), Rousseff's administration will focus on business trades with China to prevent a government "paralysis" caused by the 2015 budget cut, expected to be in the US$ 23-26.4 billion range (R$ 70-80 billion).

One of the main investments is the Transoceanic Railway that will link Brazil and Peru. While signing the deals, Rousseff was excited about the mega railway: "A new path for Asia will be opened through Brazil", she said.

The project, however, is far from materializing. The final price is not yet set - projections range from US$5 to US$12 billion.

Translated by JULIANA CALDERARI

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	Pedro Ladeira/Folhapress
	Chinese Premier Li Keqiang shakes hands with Brazilian President Dilma Rousseff during a signing ceremony in Brasilia