3 04 China , theEUandLatinAmerica:CurrentIssuesandFutureCooperation projectcontractsandexportoflabourservices.Successfullycompletedprojects includeaerialsurveysforBrazilsterritorialmanagementandportdredging.By October2008 , ChinahadsignedUSD3.3billionworthoflabourservicesand designconsultancycontracts , withUSD2.09billionalreadyrealised. AccordingtoChineseMinistryofCommercedata , bytheendofSeptember 2008 , ChinasnonfinancialsectordirectinvestmentsinBrazilamountedtoUSD 210 million , mainlyintheareasof mining , timberprocessing , motorcycle manufacturingandhouseapplianceassembly.ByOctober2008 , 447Brazilian investedforeignenterpriseshadbeensetupinChina , withatotalinvestmentofUSD 270million , mainlyintheareasofregionalaircraft manufacturing , compressor manufacturing , coal , realestate , carpartsmanufacturing , hydropower , textilesand garments ( ChineseMinistryofCommerce2010 ) . Largecompaniesonbothsidesareshowinganinterestinformingalliances. BaoSteelinShanghaiformedajointventurewithBrazilsCompanhiaValedoRio Doce ( CVRD ), theworldslargestironoreproducerandexporter , tooperate minesandsteelmillsinBrazil.Chinalcosignedaframeworkagreementwith CVRDtobuildanaluminaplantinBrazilwithanannualcapacityof1.8million tonnes.SinopecsignedaframeworkagreementwithBrazilsPetrobrastoexplore andexploitoilandnaturalgasinBrazilorathirdcountry.Theregionalaircraft productionlinein Harbin , ajointventurebetween Empresa Brasileirade Aeronutica ( EMBRAER ) andChinaAviationIndustryCorporationII ( AVIC II ), wasputintooperationin2003.LargenationalorprivatebanksfromBrazil havealsosetuprepresentativeofficesinChinatoprovidefinancialservicesto companiesinbothcountries. The SinoBrazilian Earth Resources Satellite Project has been going smoothlysinceitscommencementin1988.Bytheendof2007 , thecollaboration betweentwocountrieshadresultedinresearchanddevelopment ( R & D ), aswell asthelaunchingofthreeearthresourcessatellites , thedatagatheredbywhich areprovidedfreetootherdevelopingcountries.Twomoresatellitesaretobe launchedbefore2013.InJanuary2009 , theFederalUniversityofRiodeJaneiro setuptheBrazilChinaCentreofInnovativeTechnologyResearchtogetherwith TsinghuaUniversitytoconductresearchonglobalclimatechangeandenergy security.Chinaalsois playing anincreasinglyimportantrolein Brazils infrastructureanddeepseaoilexploration. DuringthevisitbyBrazilianPresidentLuladeSilvatoChinainMay2009 , thetwocountriesagreedtofurtherdiversifytheirbilateraltradestructureandto increasebilateraltradevolumes.Inthecontextofthecurrentglobalfinancial crisis , theyalsoagreedtodeepencooperationincustoms , animalandplant
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China, the EU and Latin America : current issues and future cooperation
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