Full coverage: Xi Visits Cambodia, Bangladesh, Attends BRICS summit

During the BRICS summit, Brazilian President Michel Temer affirmed the Brazilian economy’s positive signs. Also at the summit, the president of Brazilian export and investment promotion agency spoke to CCTV about its outlook for China Brazil economic ties. The Brazilian media focused on economic topics during the BRICS summit. Local papers like the GLOBO and FOLHA DE SAO PAULO reported about Brazilian President Michel Temer’s cheerful speech on the country’s economy, as well as how the BRICS mechanism is expanding horizons for its member countries.

China is no longer seen as an export destination, but also a source of investment and financing. Chinnese President Xi Jinping highlighted the BRICS countries’ progress over the past decade in participation in global affairs. Xi also suggested strengthening cooperation between the BRICS countries. Earlier the president of Brazilian Agency of Exportation and Investment Promotion spoke to CCTV about China’s ongoing transformation and what it means for bilateral economic ties.

"I think China’s transformation is necessary. And when its necessary its healthy. Healthy in many dimensions, especially regarding environmental issues. China now has a program of reducing its level of emissions, which is significant and important. We are optimistic about China’s capacity for overcoming challenges and keep on growing at a solid pace, but this time with the key words: strong fundamentals and sustainable." Brazilian Agency of Exportation and Investment Promotion president Poberto Jaguaribe said.

"You were also the ambassador of Brazil in China......So what do you think China and Brazil should do to boost economic ties in the future? " CCTV Latin America correspondent Yin Yue asked.

"Its important to realize the relevance of the relationship between China and Brazil, and maintain it with open and flexible operations to overcome the occasional impasses. We shouldn’t restrict this relationship only to the trade front. The investment is also an important area. China is already the world’s biggest market, and its still expanding to become the world’s market. Every country that wishes to have important international operation should focus on China, because China is a country with the biggest potential for demand to grow. And Brazil will also focus on this." Poberto Jaguaribe answered.

International researchers have sounded positive tones in predicting Brazil’s economy. Local analysts believe a priority now is to attract international investment. Chinese investment in Brazil is estimated at 20-30 billion dollars this year.