Brazilian president Luiz Inacio Lula da Silva in China to promote biofuels investment, technology, export ties

In China, Brazilian President Luiz Inacio Lula da Silva arrived for a three-day state visit that will focus on cooperation in biofuel development. Lula said that he hoped to promote sugarcane ethanol exports, and technology sales; China is experiencing a shortage of cane, but high import taxes have been a barrier to equipment sales.

Lula also raised the possibility of financial cooperation between the China Development Bank and Brazil’s state oil company Petrobras.

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