Brasília, 3/16/2004 (Agência Brasil - ABr) - There has been a surge in Brazil-China trade. Within a few weeks a large mission from China will visit the country. And in May, president Luiz Inacio Lula da Silva travels to China.

Last year China became the third largest destination of Brazilian goods. Even so, what China buys from Brazil is only 1% of its imports. That includes US$1.3 billion in soybeans, US$764 million in iron ore, and US$258 million in finished iron and steel goods. During the first two months of this year, exports to China reached US$635 million, an increase of 72% over the same period last year.

Brazil is also a big buyer of Chinese goods. China was the country's fifth biggest supplier last year as Brazilian imports of Chinese goods rose 38%, compared to 2002. So far this year, Brazilian imports of Chinese goods are up 60%.

What Brazil wants to do in the future, reports Ivan Ramalho, the secretary of Foreign Trade at the Ministry of Development, is sell China more manufactured goods with higher aggregate value. (AB)