Brazil’s Lula to meet Chinese President Xi on April 14 in Beijing

Luiz Inacio Lula da Silva, President of Brazil, is set to meet Xi Jinping, President of the People’s Republic of China, on April 14 in Beijing, the capital of China.

According to Lula da Silva’s office, Lula rescheduled his visit to China after he was diagnosed with mild pneumonia. His office said on Friday that Lula’s visit was postponed last week. Lula da Silva was originally scheduled to attend the forum in China.

Reportedly, the president of Brazil is set to leave for China on April 11. He is expected to sign some 20 agreements with China. Later on, he will meet with Chinese President Xi and Chinese Prime Minister Li Qiang. Lula will also attend an event at the National People’s Assembly, the authoritative legislative body of the country.

Reportedly, Lula seeks new Chinese investment in Brazil. The visit comes two months after Lula met with United States President Joe Biden at the White House, the residency of the US President.

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Recently, China and Brazil agreed to a new trade deal in order to trade in their own currencies. On Wednesday, the Brazilian government announced the deal. The two countries agreed to trade and conduct financial transactions directly, exchanging Chinese Yuan and Brazilian Real.

According to the Brazilian Trade and Investment Promotion Agency, ApexBrasil, the new deal can reduce costs and boost greater bilateral trade between the two countries. With this new agreement, China and Brazil ditched USD to conduct trading.

China has been the biggest trading partner of Brazil, with a record USD 150.5 billion in bilateral trade in 2022. The new deal will pave the way to promote bilateral trade between both nations

The Brazilian and Chinese authorities lauded the deal. The Industrial and Commercial Bank of China and Bank of Communications BBM are set to execute transactions between China and Brazil.