Premier on Brazil visit
Print Edition
PREMIER Li Keqiang headed to Brazil yesterday on a three-day visit with a promise of US$50 billion in investment for creaking infrastructure as his hosts finalize preparations for next year’s Olympics.
Li will hold talks today with President Dilma Rousseff, for whom the investment will be a major boon. Brazil’s economy is battling a fifth straight year of poor growth and spiraling inflation.
Chinese investment in Brazil has grown exponentially over the past decade, with China becoming Brazil’s main trading partner in 2009.
On Friday Li and Rousseff will ink a series of accords on political and commercial issues, and some 30 investment deals. One project is a proposed rail link stretching some 3,500 kilometers from the key Brazilian port of Santos to the Peruvian Pacific port of Ilo.
The two countries are also expected to announce the delivery of 22 jetliners from Brazil’s Embraer to China, part of a larger order of 60 airplanes from the world’s No.3 commercial aircraft developer.
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