China, Brazil sign deals at BRIC summit

China and Brazil have signed a series of trade and investment agreements at the BRIC summit, before it came to an early end, in a bid to boost trade and energy cooperation.

Brazilian media reported that China's Wuhan Iron and Steel will build a plant in a Brazilian port with the country's logistic firm LLX Logistica. China's oil giant, Sinopec and its development bank have also signed a strategic development agreement with Brazil's Petrobras, to develop the South American country's oil resources. The two nations have also agreed to boost Brazilian beef and tobacco exports to China, and to move forward with cooperation on satellite launches.