China Brazil Photo:VCG

China is willing to take the 50th anniversary of the establishment of diplomatic relations with Brazil as an opportunity to prepare for the next stage of high-level exchanges between the two sides, and promote the China-Brazil comprehensive strategic partnership to a new level, Chinese Foreign Minister Wang Yi said during a meeting with Brazilian Foreign Minister Mauro Vieira in Brasilia on Thursday local time. 
Following the traditional new year visits in Africa, China's top diplomat is visiting Brazil and Jamaica at their invitation from January 18 to 22. Wang is also expected to meet Brazil's President Luiz Inacio Lula da Silva, according to a Brazilian presidential spokesperson.

According to a readout released by the Chinese Foreign Ministry on Friday, Wang and Vieira both stressed the important time node of the 50th anniversary of diplomatic ties, and agreed on boosting relations. 

China treasures its friendship with Brazil, said Wang, noting that the two countries should strengthen unity and cooperation to deal with global challenges as the two largest developing nations in Eastern and Western Hemispheres respectively.

Vieira affirmed the fruitful results of bilateral relations. He said Brazil stands ready to enhance communication and coordination with China and deepen mutually beneficial cooperation.

According to the Chinese Foreign Ministry, the two sides highly value the strategic significance and overall impact of China-Brazil cooperation, and both foreign ministers will co-chair the 4th Meeting of the Brazil-China Global Strategic Dialogue, and carry out in-depth strategic communication on a wide range of bilateral and multilateral issues.

Wang Youming, director of the Institute of Developing Countries at the China Institute of International Studies in Beijing, told the Global Times on Friday that in 2024, China and Brazil are not only expected to further strengthen bilateral practical cooperation in various fields, but also to enjoy closer coordination in international affairs.

Despite Brazil having yet to sign a memorandum of understanding on cooperation within the framework of the Belt and Road Initiative (BRI), according to the expert, Brazil is expected to further synergize its re-industrialization policy and the new version of the "Accelerated Growth Plan" with the BRI. That suggests the prospect of bilateral economic and trade relations reaching new heights in 2024. 

According to data from Xinhua, China has been Brazil's largest trading partner for 14 consecutive years, and bilateral trade reached a record $171.5 billion in 2022, up 4.9 percent year on year. Brazil is also the first Latin American country whose trade volume with China has exceeded $100 billion.

Brazil is an important member of BRICS, and is also taking over the G20 presidency in 2024. In November this year, the G20 Summit is scheduled to be held in Rio de Janeiro. 

During his meeting with Vieira, the Chinese top diplomat expressed support for Brazil's hosting of the G20 Rio Summit and noted that China hopes Brazil will play a bigger role in international and regional affairs. Vieira said that Brazil looks forward to taking the hosting of the G20 Rio Summit as an opportunity to strengthen high-level exchanges with China, and inject strong impetus into bilateral relations.

In November 2023, President Lula told media that Brazil will focus on reducing hunger and poverty, slowing climate change and global governance reform when it heads the G20. Analysts believe that the idea is highly consistent with the Global Security Initiative, Global Development Initiative, and Global Civilization Initiative - three major initiatives proposed by China. 

The leaders of the two countries have similar views on some of the current global geopolitical hotspots, which has laid a foundation for further cooperation, coordinating positions and strategic alignment, Wang Youming said.

The expert noted that during Lula's previous two terms, China and Brazil enjoyed a scenario summarized by the phrase "hot economics, hot politics," which is very likely to be continued and developed. 

China and Brazil have a sound foundation of cooperative relations, based on which a new round of bilateral and multilateral interaction can further consolidate China-Brazil ties, he noted.