China ‘gets closer’ for Brazil
The heads of state from Brazil, Bolivia and China have met to discuss a deal that will bring the nations closer.
In the Bolivian capital of La Paz this weekend the leaders clinched a deal for South America’s first "east-west highway", which will link-up Brazil’s Atlantic coast to Chile’s Pacific coast, via Bolivia.
The 4,700 kilometre highway will especially benefit Brazilian exporters to Asia and also Asian companies seeking better access to Brazil’s 180 million consumers.
During his visit to Laz Paz, Brazilian President Luiz Inácio Lula da Silva said that the nation would continue to invest in Bolivia’s energy sector, committing $750 million (£375 million) to the industry.
Brazil and Bolivia jointly own state-run oil company Petrobras, which last month discovered what is thought to be around 40 per cent of Brazil’s oil reserve, 250 kilometres off the coast of Rio de Janeiro.
Improved trade links are good news for the growing Brazilian economy, where sustainable energy and tourism industries are currently thriving.
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