Envoy says China eyes slice of Brazilian food processing pie

Chinese Ambassador to Brazil Yang Wanming has said his country would like to play a bigger part in the food processing industry in Brazil, and wants agreements on food safety that would allow for long-term Sino-Brazilian deals to trade food, Reuters reports.

The news agency quotes Mr Yang telling a business gathering in the Brazilian city of São Paulo that China has been the biggest trading partner of Brazil for 10 years in a row and that the annual value of Sino-Brazilian trade was US$100 billion last year, the most ever.

Separately, the China News Service reports that Mr Yang told the gathering that a new phase of Sino-Brazilian co-operation had begun, with new emphases.

The Chinese state-run news agency also quotes the ambassador as saying the value of Chinese investment in Brazil has reached nearly US$70 billion.