Free Trade Agreement Brazil China

China became Brazil`s largest trading partner in 2009. [5] [10] Former Brazilian President Luiz InĂ¡cio Lula da Silva and many Brazilian media outlets consider China to be Brazil`s “most promising trading and strategic partner” due to China`s “growing demand for raw materials and agricultural products.” [11] Bilateral trade increased from $6.7 billion in 2003 to $36.7 billion in 2009. [12] In 2010, despite generally friendly and close relations, Brazil was one of the few emerging countries to publicly criticize China`s policy regarding the so-called currency war. Brazil has asked China to allow its currency to appreciate faster, which would help other countries better compete with Chinese exports. Presidential elections.