Lula discusses trade and climate change with Justin Trudeau

President Luiz Inácio Lula da Silva met today (21) with the Prime Minister of Canada Justin Trudeau at the G7 summit in Hiroshima, Japan. The leaders discussed trade, environmental protection, the situation in the hemisphere and the war in Ukraine.

"This meeting with the Prime Minister of Canada is extremely important to Brazil, since we have an almost USD 10.5 billion, reasonably successful commercial relationship. It is also relevant to mention that neither of our two countries have any special advantages in this: it's more or less the same for both sides – and we think that Brazil and Canada are in a good position to double these trade relations", said Lula in his opening speech.

To Lula, the two countries will converge over coming years in environmental preservation as a way of combating climate change.

"Brazil is also interested in talking to Canada about the climate crisis which is affecting the world. A lot of people are talking about this, but only a few are doing what’s got to be done; agreements are often not fulfilled", said Lula. The president observed that the world has not complied with the Kyoto protocol, nor with the Paris agreement, nor with recent COP 15 precepts. "We must take responsibility and be aware that the climate crisis is not going to wait for our political will. It demands that we be faster, more precise – otherwise our decisions will be too late", said Lula.

Converging interests were also highlighted by Trudeau during his opening speech. "It’s a great pleasure to meet President Lula. We have a lot in common, whether in terms of the environment, native peoples, partnerships, or supporting workers and creating a better future for all. These are some of the global issues I want to talk about", said the Canadian Prime Minister.

This was Lula's sixth bilateral meeting with a head of state or government since he arrived in Japan last Friday. So far, he has spoken with the leaders of Australia, Japan, Indonesia, France and Germany, in addition to talks with the International Monetary Fund (IMF) managing director Kristalina Georgieva.

BILATERAL RELATIONS — Canada has profound and long-standing diplomatic and trade relations with Brazil, as well as coordination on various regional and multilateral issues. Furthermore, Canada is now Brazil's 13th largest trading partner. The two countries have a solid and long-standing investment relationship. Canada is the 11th largest investor in Brazil. Brazil, in turn, is the largest Latin American investor in Canada, and the 12th in global terms.

There are also bilateral dialogue and cooperation processes between the two countries concerning education; science, technology and innovation; military affairs; and energy and mining. There is also an increasing flow of Brazilian students and immigrants to Canada, favored by the multiethnic and multicultural nature of Canadian society.

TRADE AND INVESTMENTS — In 2022, trade between Brazil and Canada reached USD 10.56 billion, a 40.9% increase compared to 2021. Brazilian exports reached USD 5.39 billion, while imports from Canada added up to USD 5.16 billion. The Brazilian surplus was USD 232.1 million.

The following were Brazil’s main exports to Canada in 2022: gold; aluminum; sugar; semi-finished products; iron and steel; industrialized products; and coffee.

Top imports from in 2022 included chemical fertilizers (around 72% of the total); industrialized products; aircraft; and ethylene polymers.