On May 23, 2022, the sixth meeting of the China-Brazil High-level Coordination and Cooperation Committee was held. The meeting not only planned the cooperation goals and principles between China and Pakistan in the next 10 years, but also identified priority areas and projects for cooperation in the next five years. The "China-Brazil Entrepreneurs Committee 2022 Annual Meeting" under the framework of the China-Brazil High-level Committee meeting mechanism was also held online recently. The enterprises of the two countries continue to explore and innovate and deepen cooperation.

In recent years, China-Brazil economic and trade cooperation has achieved good results. In 2021, trade between China and Brazil will increase by 37% to $164.1 billion. In the first quarter of 2022, China's total exports to Brazil were about US$19 billion, accounting for 23% of Brazil's total imports, reaching the highest level in the same period; China's total imports from Brazil totaled US$19.7 billion, accounting for 29% of Brazil's total exports.

China-Pakistan pragmatic cooperation in various fields has also shown a good momentum. In the field of science and technology, Brazil has become the country where China has built the most joint laboratories in Latin America. In the field of communications, Huawei has cooperated with Brazilian operators to build the first high-speed optical fiber network across the Amazon region. In the field of aerospace, China-Brazil cooperation on earth resources satellites has attracted much attention, benefiting a wide range of countries. In the financial field, the two sides have carried out a number of financing cooperation through the AIIB and the New Development Bank.

"At present, the new crown pneumonia epidemic is ups and downs, the international situation is complicated, and the economic and trade cooperation between China and Pakistan is facing new challenges. Under the new situation, China is committed to building a new development pattern, persisting in opening up to the outside world, and deepening economic and trade investment for China and Pakistan. Cooperation provides new opportunities." Ma Xiuhong, President of the China Council for the Promotion of International Investment, said that China and Brazil have joined hands to fight the epidemic and overcome the difficulties together. The practical cooperation in various fields has yielded fruitful results, which has become a vivid portrayal of the mutual benefit and win-win cooperation between China and Latin American countries. In the future, China-Pakistan bilateral economic and trade cooperation will have broad opportunities and huge development potential.

According to the introduction of Xia Qinglong, Chinese Chairman of the China-Brazil Entrepreneurs Committee and President of CNOOC Limited, not long ago, the first phase of the global giant pre-salt ultra-deepwater oilfield, which CNOOC participated in the construction of and had the rights to, successfully opened in Brazil. put into production. This is an important growth point for China's overseas oil and gas production and an important result of in-depth cooperation between China and Pakistan. In 2021, CNOOC successfully held a stake in the world's largest deepwater oil field, the Búzios oil field in Brazil, indicating that the two countries have broad space for cooperation in the energy field.

"Under favorable conditions such as increasing political mutual trust, complementary economic structure, and continuous optimization of the policy environment, companies from both sides will surely boost their confidence, seize new opportunities, expand cooperation, and strive to contribute to the stable economic recovery of the two countries in the post-epidemic period and the development of bilateral cooperation. The vigorous development of trade and investment contributes." Xia Qinglong said that CNOOC is willing to actively promote dialogue and exchanges with the Brazilian business community, and continue to contribute to China-Brazil energy trade, investment and technical cooperation.

"China-Brazil trade continues to create new records. After Brazil's exports to China reached a record high in 2021, China-Brazil trade in 2022 is still showing resilience." Luis Luis, Brazil Chairman of the China-Brazil Entrepreneurs Committee and former Brazilian Ambassador to China Augusto de Castro Neves said that China-Brazil economic and trade cooperation is full of vitality, and Chinese investment in Brazil will begin to resume growth in 2021, mainly in the energy sector. At the same time, Chinese enterprises have also shown great investment interest in the field of information technology.

At the meeting, Chinese and Pakistani entrepreneurs also exchanged views on industries such as energy, digital economy and green development, and said they would explore more "small but beautiful" cooperation projects to promote the diversified and high-quality development of China-Pakistan two-way investment.Editor/XuNing