SHANGHAI, April 1 (Xinhua) -- The Brazilian government recently said that Brazil and China could trade in their own currencies in the future, and not use the U.S. dollar as an intermediary.
A Brazilian diplomat in Shanghai told Xinhua that such an arrangement will facilitate bilateral trade and lower the cost of transaction.
China has been Brazil's biggest trade partner for 14 consecutive years, and Brazil is the first Latin American country to hit a trading volume of over 100 billion U.S. dollars with China.
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