An expert told that trade between Brazil and China in 2015 may reverse a downward trend as commodity prices are recovering and Brazil will export more manufactured goods to China. Brazil-China trade dropped significantly in 2014, with Brazilian exports to China tumbling by more than 10 percent. However, the bilateral trade has bottomed out now, said Brazilian expert Carlos Tavares de Oliveira.
Tavares recommended that the Bank of BRICS (the bloc of the five countries of Brazil, Russia, India, China and South Africa), whose creation was officially approved last year at a summit, should become operational as soon as possible in order to provide a boost to trade in the BRICS member countries. Additionally, he said, Brazilian companies should pay more attention to the new free trade zone in Shanghai as it offers opportunities for them to enter the Chinese market or increase their presence there.
The Rules, which is recognized as institutional innovation of dispute resolution in the Free Trade Zone and the important institutional achievement of legislative is a significant measure towards the construction of the rule of law, commerce-friendly and international environment in Free Trade Zone and even Shanghai as a whole; it will also be a good model for the formation of more replicable and scalable experiences for institutional reform in the future construction of legal environment in the Free Trade Zone.