Sixth Meeting of the Sino-Brazilian High Level Commission for Consultation and Cooperation (COSBAN) - May 23, 2022

The Vice President of the Federative Republic of Brazil, Hamilton Mourão, and the Vice President of China, Wang Qishan, co-chaired today in virtual format the Sixth Meeting of the Sino-Brazilian High Level Commission for Coordination and Cooperation (COSBAN). The plenary session was attended by representatives of 17 Brazilian Ministries and governmental Agencies under the coordination of the Ministry of Foreign Affairs, and 17 Chinese Ministries and governmental Agencies. This is the second meeting of COSBAN during the current government, which demonstrates the regularity and fluidity of the dialogue between the two countries as well as the effectiveness of this important consultation mechanism.

The Vice Presidents celebrated the tenth anniversary of the Brazil-China Comprehensive Strategic Partnership and announced the Executive Plan 2022-2026 and the Strategic Plan 2022-2031, which will guide bilateral relations in the coming years. They approved the Commission's new structure, which is more compact and results-oriented.

The Vice Presidents also reaffirmed their willingness to expand and diversify trade and investment flows between Brazil and China. They welcomed the conclusion of the phytosanitary protocols for corn and peanuts, which will guarantee these Brazilian products access to the Chinese market. They also welcomed the conclusion of the agreement to avoid double taxation and prevent tax evasion, which should increase the competitiveness of companies and foster new investments between the two countries.

COSBAN is the main mechanism for regular dialogue between Brazil and China, and brings together, in its new format, ten thematic subcommittees: Political; Economic-Commercial and Cooperation; Economic-Financial; Industry, Information and Communication Technology; Agriculture; Sanitary and Phytosanitary Themes; Energy and Mining; Science, Technology and Innovation; Space; and Culture and Tourism.

As pointed out by Vice President Hamilton Mourão during the press conference held after the VI COSBAN, China has been Brazil's largest trade partner since 2009. Bilateral trade has grown from $ 9 billion in 2004 to more than $ 135 billion in 2021. Brazil is the country that receives the most Chinese investments in Latin America, with 47% of the total in the region and an accumulated stock of $ 66 billion between 2007 and 2020.