Editor's note: Azhar Azam, a special commentator on current affairs for CGTN, works for a private organization as a market and business analyst. He writes on geopolitical affairs and regional conflicts. The article reflects the author's opinions and not necessarily those of CGTN.

Following his Africa trip, China's Foreign Minister Wang Yi is visiting Brazil and Jamaica at their invitation from January 18 to 22.

This year marks the 50th anniversary of the establishment of China-Brazil diplomatic relations. After Beijing became Brasilia's top trading partner in 2009, the bilateral ties were elevated to a comprehensive strategic partnership in 2012.

Under Brazilian President Luiz Inacio Lula da Silva – who bankrolled transformational social programs like "Bolsa Familia," which means "Family Allowance," during his first term partly thanks to China's massive demand for Brazil's commodities and helped him lift roughly 20 million people out of poverty per the World Bank – the China-Brazil relationship experienced stable development. Once Lula returned to the presidency last year, he pledged to "consolidate" Brasilia's relations with Beijing.

China and Brazil are entwined in a close economic relationship. Beijing buys almost one-third of all Brazilian exports. Bilateral trade between China and Brazil, according to the Brazilian government's statistics, had expanded from $3.2 billion in 2001 to a record high of $150.5 billion in 2022. Beijing is one of the major sources of foreign direct investment in Brasilia particularly in power generation, oil extraction, telecommunications, financial services, and industry. Between 2007 and 2020, China invested $66 billion in the country as Brazil received almost half of all Chinese investments in Latin America. 

The China-Brazil relationship is characterized as primarily economic but Lula wants to see this partnership go beyond trade. His April 2023 visit to Beijing – where he met Chinese President Xi Jinping, which resulted in 15 agreements and Brazilian Real 50 billion (over $10 billion) investments from China – indicated the cooperation was expanding from trade to space collaboration, research and innovation, digital economy, information technology, automotive industry, and renewable energy. Lula's trip, hence, not only broadened the relationship, but it contested claims that Chinese investments in Brazil had plunged significantly.

Dismissing the U.S.-led Western concerns and defending his country's pursuit of Chinese communication and semiconductor technology, Lula hailed Brasilia's relations with Beijing as "extraordinary" and warned, "Nobody can stop Brazil from continuing to develop its relationship with China." His comments, soon after holding a meeting with U.S. President Joe Biden in the White House, signaled an outright snub to America's efforts to suppress China's technological advancement.

In what was Lula's third state visit and first after assuming office, both sides issued a comprehensive joint declaration on cooperation from bilateral to international issues including Ukraine. Described as "the most comprehensive" by the Brazilian government, the joint declaration reflected the two countries' shared interests and common views in key areas.

Amid America's efforts to fuel the Ukraine conflict, Lula sought the U.S. to "stop encouraging war and start talking about peace." On war in the Middle East, Brazil has also condemned forced displacement of Palestinians, while supporting peace and advocating for the two-state solution.

2024 marks the beginning of a new stage of a strong China-Brazil strategic partnership as in the first year of Lula's headship, Brazil's exports to China for the first time ever have transcended the $100 billion barrier surging 16.5 percent to about $106 billion. This increased trade could well be linked with Lula's visit and a reconciliatory approach toward China; it would further help him fund the country's social welfare program and push the poverty rates that have remained stagnant over the recent years.

China, the world's top consumer of soybeans and one of the biggest corn buyers internationally, was once a key market for the U.S. But America's China policy has stoked fears in the Chinese importers, urging them to reduce their dependence on the U.S. for corn and soybeans purchases. As Washington risks the interests of its own farmers and loses agricultural influence globally, Brasilia and other nations are solidifying their ties with Beijing to take advantage of the vast Chinese market.

Renewable energy cooperation is being augmented with the State Grid Corporation of China last month winning the largest-ever electricity transmission line auction in Brazil. The company will invest Brazilian Real 18.1 billion ($3.6 billion) to build 1,513 kilometers of lines to transport energy generated from renewable sources in the northeast to other parts of the country.

The Brazilian oil and gas giant Petrobras plans to create a Chinese subsidiary to accelerate oil refining, fertilizer projects, and green transition. The Chinese automaker BYD has also announced to invest more than $600 million in Brazil to build its first electric vehicle plant outside Asia with a capacity to produce 150,000 cars per year, inaugurating the construction of a new factory.

China is Brazil's promising partner. There is a great convergence between the two states to strengthen strategic communication and cooperation on crucial regional and global issues such as fighting climate change, and inequality, accelerating growth and energy transition, reforming international institutions, and promoting world peace. Wang Yi's trip will reaffirm this commitment and boost the China-Brazil strategic partnership.

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