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Li Keqiang Attends China-Brazil Business Summit with President Dilma Rousseff of Brazil and Delivers Speech

At noon on May 19 local time, Premier Li Keqiang attended the China-Brazil Business Summit in Brasilia together with President Dilma Rousseff of Brazil and delivered a speech.
Li Keqiang congratulated on the successful holding of the China-Brazil Business Summit. Li Keqiang said that both China and Brazil are major emerging countries, and the bilateral relations have gone beyond the bilateral scope with more global influence. At present, the developed countries are pushing forward reindustrialization, and the developing countries also need to promote industrialization and urbanization. China is willing to work with Brazil to advance diversification of economic and trading structure, vigorously deepen production capacity cooperation, and actively promote exchanges and cooperation in fields of science, technology and education, so as to make more contributions to global economic recovery.
Li Keqiang pointed out that Latin America is an important cornerstone for global peace and stability, an emerging force for global prosperity and growth, and an excellent representative of inclusive coexistence of human civilizations. China and Latin America enjoy profound traditional friendship and increasingly closer cooperation in various fields. The China-Latin America relations are at a new historical starting point. Focusing on global cooperation, my visit aims to consolidate China-Latin America traditional friendship, deepen practical cooperation and promote transformation and upgrading of China-Latin America cooperation with international production capacity cooperation as the breaking point. This will boost global economic recovery, advance economic transformation and upgrading for both sides, create win-win results for multiple parties, and make the people share the fruits of development.
Li Keqiang stressed that China is willing to discuss with Latin-America a new "3×3" model of China-Latin America production capacity cooperation.
First, we should conform to the needs of the Latin American countries and jointly build three major channels of logistics, electricity and information to achieve connectivity on the South American continent. The Chinese enterprises are willing to work with Latin American enterprises to co-construct a logistics channel with railway transportation as the backbone running through the South American continent and the Caribbean countries, an electricity channel connecting the Latin American countries by means of highly efficient electricity transmission and smart power grids, and an information channel relying on internet technologies and the new generation of mobile communication technologies and integrating big data and cloud computing.
Second, we should observe the rules of market economy and achieve a cooperation pattern with sound interaction among enterprise, society and government. Both China and Latin America implement the market economy, and production capacity cooperation should take the market-oriented path. In accordance with the principle of "enterprise domination, business operation, society participation and government promotion", project cooperation should be conducted by methods such as joint venture, PPP and franchise rights to implement relevant projects as soon as possible.
Third, we should focus on China-Latin America cooperation projects and expand three financing channels of fund, credit and insurance. China will set up a special fund concerning China-Latin America production capacity cooperation and provide 30 billion USD in financing for China-Latin America project cooperation in fields of production capacity and equipment manufacturing. China is willing to expand cooperation with the Latin American countries in fields such as currency swap and settlement in local currencies, and jointly maintain the stability of the financial market in the region and the world at large.
Dilma Rousseff said in her speech that Brazil and China are comprehensive strategic partners. It is very important for the two counties to strengthen cooperation in the wake of the current world economic growth slowing down. During Premier Li Keqiang's visit, the two sides signed a series of intergovernmental and commercial cooperative agreements, and made a plan for bilateral cooperation in the next seven years. In particular, China's proposal of conducting cooperation and providing financing support in the field of infrastructure will be another milestone in Brazil's economic development and Brazil-China cooperation, and will conduce to the connectivity and economic development in the whole Latin American region. Brazil welcomes Chinese enterprises to participate in building Brazil's large projects such as electricity and railway, and expects to further expand the scale of bilateral trade, promote diversification of trading structure, and expand financial cooperation, so as to jointly raise the bilateral cooperation to a new high, benefit the two countries and peoples and advance global economic recovery and growth.
Chinese and Brazilian business people present at the Summit responded with prolonged and warm applause to the speeches of leaders of the two countries.
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