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Brazil makes an agreement with China that could increase coffee exports

The Vice President of the Republic and Minister of Development, Industry, Commerce and Services (MDIC), Geraldo Alckmin, signed this Wednesday (5) an agreement with China that could increase national coffee exports by US$500 million. Alckmin, who is visiting the Asian country, signed memorandums of understanding to promote Brazilian coffee in China’s largest coffee shop chain, Luckin Coffee, which has more than 16,000 stores and is the country’s main importer of Brazilian products. The signed agreement foresees the chain’s purchase of approximately 120 thousand tons of Brazilian coffee worth around US$500 million. Considering the entire year 2023, Brazilian coffee exports totaled US$280 million. “In 2022, Brazil exported US$80 million in coffee; last year, it was US$280 million, practically four times more than the previous year. Now, in this contract with Luckin Coffee alone, we are talking about half a million dollars, demonstrating that Brazil, the largest coffee producer and exporter in the world, is opening markets”, stated the vice president. In addition to the agreement with Luckin Coffee, Brazil signed with China the creation of a hub to promote trade and investment in the Yangpu district in Shanghai, home to technology companies such as TikTok. A total of 12 memorandums were signed for Brazilian promotion in the Asian country. The initiatives were carried out through the Brazilian Export Promotion Agency (ApexBrasil).

Partnership with Fiocruz

The Chinese pharmaceutical company Sinovac, developer of the Coronavac vaccine, announced, during Alckmin’s visit to the Asian country, that it will invest US$ 100 million in Brazil in the development of cell therapy and local production of vaccines and monoclonal antibodies – medicines made from technology genetics that treat infectious diseases. The Chinese pharmaceutical company also announced that it had signed, with the Oswaldo Cruz Foundation (Fiocruz), the intention to cooperate in developing vaccines to combat health crises. “I took Coronavac,” said the vice president, citing the vaccine against Covid-19 that helped save thousands of Brazilians. “Science helps the world and we have to advance even further, we have to work together, which is why I welcome Sinovac’s willingness to invest in Brazil.”  

 

Source: Agência Brasil

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06.10.2024

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