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China, the EU and Latin America : current issues and future cooperation
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04 China theEUandLatinAmerica:CurrentIssuesandFutureCooperation projectcontractsandexportoflabourservices.Successfullycompletedprojects includeaerialsurveysforBrazilsterritorialmanagementandportdredging.By October2008 ChinahadsignedUSD3.3billionworthoflabourservicesand designconsultancycontracts withUSD2.09billionalreadyrealised. AccordingtoChineseMinistryofCommercedata bytheendofSeptember 2008 ChinasnonfinancialsectordirectinvestmentsinBrazilamountedtoUSD 210 million mainlyintheareasof mining timberprocessing motorcycle manufacturingandhouseapplianceassembly.ByOctober2008 447Brazilian investedforeignenterpriseshadbeensetupinChina withatotalinvestmentofUSD 270million mainlyintheareasofregionalaircraft manufacturing compressor manufacturing coal realestate carpartsmanufacturing hydropower textilesand garments ChineseMinistryofCommerce2010 Largecompaniesonbothsidesareshowinganinterestinformingalliances. BaoSteelinShanghaiformedajointventurewithBrazilsCompanhiaValedoRio Doce CVRD ), theworldslargestironoreproducerandexporter tooperate minesandsteelmillsinBrazil.Chinalcosignedaframeworkagreementwith CVRDtobuildanaluminaplantinBrazilwithanannualcapacityof1.8million tonnes.SinopecsignedaframeworkagreementwithBrazilsPetrobrastoexplore andexploitoilandnaturalgasinBrazilorathirdcountry.Theregionalaircraft productionlinein Harbin ajointventurebetween Empresa Brasileirade Aeronutica EMBRAER andChinaAviationIndustryCorporationII AVIC II ), wasputintooperationin2003.LargenationalorprivatebanksfromBrazil havealsosetuprepresentativeofficesinChinatoprovidefinancialservicesto companiesinbothcountries. The SinoBrazilian Earth Resources Satellite Project has been going smoothlysinceitscommencementin1988.Bytheendof2007 thecollaboration betweentwocountrieshadresultedinresearchanddevelopment ), aswell asthelaunchingofthreeearthresourcessatellites thedatagatheredbywhich areprovidedfreetootherdevelopingcountries.Twomoresatellitesaretobe launchedbefore2013.InJanuary2009 theFederalUniversityofRiodeJaneiro setuptheBrazilChinaCentreofInnovativeTechnologyResearchtogetherwith TsinghuaUniversitytoconductresearchonglobalclimatechangeandenergy security.Chinaalsois playing anincreasinglyimportantrolein Brazils infrastructureanddeepseaoilexploration. DuringthevisitbyBrazilianPresidentLuladeSilvatoChinainMay2009 thetwocountriesagreedtofurtherdiversifytheirbilateraltradestructureandto increasebilateraltradevolumes.Inthecontextofthecurrentglobalfinancial crisis theyalsoagreedtodeepencooperationincustoms animalandplant