A symposium on trade between China and Brazil was held here Monday, with more than 700 entrepreneurs of the two countries attending the meeting.

Brazilian President Luis Inacio Lula da Silva and Chinese Vice Premier Hui Liangyu attended the meeting and delivered speeches.

Lula said that since the two countries established diplomatic ties 30 years ago, bilateral political and economic relations have become closer and he hopes the two countries can seize the opportunity and set an example for south-south cooperation, that is cooperation between developing countries.

Hui said that facing new opportunities and with complementary economies, the two countries are sure to have a bright future in bilateral cooperation.

He said he believes the symposium will create more opportunities in trade and investment and push the economic relations forward.

A Sino-Brazilian committee of the entrepreneurs was founded during the symposium.

Some 15 cooperative contracts have also been signed, which involve cooperation in fields like steel, coal and motor.

In 2003, the bilateral trade volume hit a new high with US$8 billion. Brazil has become the largest trade partner of China in Latin America and China is Brazil's fourth largest trade partner.

(Xinhua News Agency May 25, 2004)