Shanghai's Yangpu district and the Brazilian Trade and Investment Promotion Agency, Apex-Brasil, ink a memorandum of cooperation to establish the agency's first Brazil Center in Asia on June 5 in Beijing. [Photo/Yangpu district government]

In a landmark move to bolster economic ties and foster innovation between China and Brazil, Shanghai's Yangpu district and the Brazilian Trade and Investment Promotion Agency, Apex-Brasil, have inked a memorandum of cooperation to establish the agency's first Brazil Center in Asia. This strategic partnership aims to create a comprehensive platform that caters to Chinese and Brazilian enterprises seeking to establish a presence in each other's countries.

The memorandum was formally signed during the China-Brazil Business Seminar, a collaborative effort between the China Council for International Investment Promotion and Apex-Brasil, which was held on June 5 in Beijing. The event was a part of the festivities commemorating the 50th anniversary of the establishment of diplomatic relations between China and Brazil.

According to the terms outlined in the memorandum, both parties will concentrate on pivotal areas of development such as green and low-carbon initiatives, the bioeconomy, sustainable agriculture technology, and the digital economy. They will collaborate on organizing business and innovation activities with the aim of further advancing and expanding bilateral economic and trade, as well as fostering the development of science and technology innovation exchange projects.

Ni Bing, the executive vice governor of Yangpu district, expressed the district's enduring commitment to fostering friendly exchanges and cooperation with Brazil. He highlighted initiatives such as China-Brazil Innovation Week and the China International Import Expo as platforms that have facilitated such collaborations in the past. Ni emphasized that the establishment of the Brazil Center is poised to elevate the level of cooperation between Yangpu district and Brazil, thus opening up new avenues for partnership and mutual growth.

Source: Yangpu district government