On November 15, 2008, Chinese President Hu Jintao met with his Brazilian counterpart Luiz Inacio Lula da Silva in Washington.

The Group of 20 summit on financial markets and world economy held here earlier in the day was a success thanks to joint efforts of all sides, Hu said. The declaration issued at the summit is a comprehensive, positive and balanced document, which not only proposes measures to curb the further spread of the financial crisis, but also puts forward ideas for reform of the international financial system, he noted. Hu hoped the summit would be a good beginning and help boost the confidence of all peoples in the world to cope with the crisis. As the interests of all countries in the world are becoming increasingly interrelated, they need to work together for solutions, Hu said. Hu expressed the hope that all participating parties at the summit would adopt effective measures to check the spread of the financial crisis, avoid a global economic recession, and push ahead with the necessary reform of the international financial system.

Lula said this summit is of great significance to coping with the current international financial crisis. He expressed satisfaction with the results of the summit and said it will help the international community to enhance confidence and take joint steps and measures to cope with the crisis. It will also be conducive to avoiding the recurrence of the similar crisis in the future. Lula praised China's important role at the summit, as well as the country's efforts to expand domestic demand and promote economic growth. He hoped the two countries would enhance cooperation in coping with the financial crisis and based on this push forward bilateral ties.

Hu said fresh progress has been made in bilateral ties this year, marked by frequent high-level contacts, deepening mutual political trust, increased trade and economic cooperation, growth in mutual investments by companies of the two countries, as well as closer technological cooperation and cultural exchanges. He said both sides should strive for swifter implementation of the consensus reached by the top leaders of the two countries, and make tangible efforts to promote further development of the bilateral strategic partnership and pragmatic cooperation in trade and economy. China and Brazil are both big developing countries and they share identical or similar views and common interest on many major international and regional issues. The Chinese president said strengthening communication and cooperation in international affairs serves the interests of both nations and is also conducive to better protecting the interests of the developing countries as a whole.

Lula said there has been remarkable growth in the China-Brazil strategic partnership and close cooperation has been established in various areas, adding that there are huge potentials for such cooperation. He hoped that both sides will strengthen high-level visits and contacts at all levels and carry out more cooperation in the high-tech and other sectors to promote common development of the two countries.

Hu and Lula also discussed issues related to the Doha Round of trade negotiations. Hu said the Doha Round negotiations have entered a crucial stage and the key to the success of the talks is political will on the part of all parties concerned to further improve the multilateral trade system. China is ready to work with Brazil to push for progress at the talks, he said.

Lula said the Doha Round negotiations now face important opportunities. Brazil and China share similar views on this issue and are able to play an important role for pushing forward the talks. He expressed hope that the countries concerned will display flexibility in efforts to reach agreement.

Wang Qishan, Ling Jihua, Wang Huning and Dai Bingguo attended the meeting.