China and Brazil are due to sign an agreement next month to expand their trade and services co-operation, said on Wednesday the Brazilian Minister of Development, Industry and Trade, Marcos Pereira.

The deal will be signed on the sidelines of the 2016 Group of 20 (G20) Summit, to be held in Hangzhou, China, in early September, Chinese state-run news agency Xinhua reported.

The deal will benefit sectors that account for up to 58 percent of Brazil’s gross domestic product (GDP), Mr Pereira was quoted as saying. Brazil’s interim President Michel Temer will attend the G20 summit next month.

Currently, Brazil is China’s 10th largest trading partner, and the main destination for Chinese investment in Latin America, according to the report.