Brazil-China deal to avoid double taxation to “offer many possibilities, especially for investment”

 

The new Brazil-China deal to avoid double taxation will  “offer many possibilities, especially for investment”, according to the Brazilian Ambassador to Beijing.

Paulo Estivallet de Mesquita told CGTN that health and tourism are to key areas for future growth of economic relations between the two countries.

“There are so many areas, the pandemic even promoted cooperation in health issues more than we had before. One area we haven’t reached by any measures of potential which is tourism, because of the distance here, really it is a challenge”, Mesquita said.

China Adding to Brazil’s Record Trade Surplus

“But there is great interest in Brazil about tourism in China. And I am sure that we can also offer many things to Chinese tourists in Brazil once they are able to travel again”, the Brazilian ambassador added.

Mesquita underlined that China has been Brazil’s main trading partner for 12 years and that trade flows with Beijing are now more than twice as large as those with the United States.

“So, and this has come or have happened in virtually over twenty year period, so it’s an amazing success and (…) I think it’s it has been mutually beneficial”, the diplomat said.

Brazil Able to ‘Expand and Diversify’ Offer of Products to China

“We recently signed agreement to avoid double taxation, which I think will offer many possibilities, especially for investment”, Mesquita added.

In the case of science and technology, the diplomat said there is cooperation with China since the 1980s, with the launching satellites.

“We have already launched six earth monitoring satellites and we’re planning on launching another two in the coming years”, Mesquita said.

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