Brazil's President Lula Meets with Xie

Brazil's President Luiz Inacio Lula da Silva who was invited to attend the Global Conference on Scaling Up Poverty Reduction held in Shanghai from May 26 to 27 met with Xie Qihua, chairwoman and president of Shanghai Baosteel Group Corporation on May 26 at the Hilton Hotel Shanghai. Lula said that Chinese enterprises including Baosteel are welcome to invest in Brazil and do businesses there.

During the meeting, Lula expressed that he appreciated the cooperation between Baosteel-the most competitive steel giant in China and Brizil's CVRD, he also appreciated Baosteel's efforts in establishing Joint ventures in Brazil as well as in doing the project feasibility research work there.

Xie introduced to Lula the cooperation between Baosteel and CVRD in the projects such as Baovale Mineracao S.A. project, BV steel plant project, Shuttle Service-ULOC project and coal project.Xie said that the support of the governments have contributed a lot to the development of the enterprises of the two countries as well as the exchange and cooperation between them.

Xie said that the strategic partnership between Baosteel and CVRD is an important part of Baosteel's new development strategy. She believed that Baosteel would play an active role in promoting the friendly communication and cooperation between the two countries.