A Brazilian inter-ministerial working group is reportedly analysing a list of projects that could receive Chinese investment under the Belt and Road Initiative (BRI) ahead of a November trip by President Xi Jinping to the South American nation.
Brazilian President Luiz Inácio Lula da Silva met last Friday with Vice President Geraldo Alckmin and ministers Fernando Haddad (finance), Mauro Vieira (foreign affairs) and Rui Costa (civil affairs), as well as his chief advisor Celso Amorim and the heads of both the Brazilian Development Bank and the BRICS Bank, to review a list of options for partnerships and investments. An assistant to Lula told Brazilian newspaper O Globo that the Chinese president expects concrete agreements, not just protocols of intent on his state visit in November.
Reports indicate that Brazil will finally join China’s flagship global infrastructure development strategy during the visit, which coincides with the G20 Summit in Rio de Janeiro. This likely strengthening Sino-Brazilian relationship comes as the two countries mark the 50th anniversary of diplomatic relations.
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Lula began publicly signalling an interest in joining the BRI back in July, remarking at an event in Brasilia that he was considering what the country “had to gain” from the Chinese project. The following month, the Chinese ambassador to Brazil said membership was a “fundamental measure” that would be a “demonstration of stability” in the countries’ “long-term cooperative relationship.”
More than 20 Latin American countries have already joined the BRI, making Brazil something of an outlier in the region, particularly given its strong trade and diplomatic ties with China. But as the largest economy in Latin America and a rising power globally, Brazil is well positioned to gain significant concessions from China in return for its membership.
Concern about the US presidential election, and any potential ramifications under a second Trump administration, have delayed any moves by Brazil to join the BRI so far, according to reporting by the South China Morning Post. Advisors worry that Lula’s support for Democratic candidate Vice President Kamala Harris, coupled with membership in the BRI, could complicate relations with the US if Trump wins.
