“This partnership will grow significantly,” says Lula on Brazil–Republic of Korea trade relations

On his third visit to the Republic of Korea, President Luiz Inácio Lula da Silva emphasized that Brazil and the Asian country have broad opportunities for cooperation and exchange of experience in strategic areas. During a press statement on the morning of February 24 in Seoul, the President stated that Brazil has much to learn from the Republic of Korea, including technological sophistication. “And they have much to learn from us, particularly in the area of energy transition policy and in the discussion of critical minerals and rare earths. I believe this partnership will grow significantly.” According to Lula, the complementarity between the two nations creates solid foundations for strengthening bilateral ties.

The president also recalled that Brazil and the Republic of Korea currently maintain a trade flow of USD 11 billion. The Republic of Korea is Brazil’s fourth-largest trading partner in Asia.

Lula highlighted that the relationship between the two countries tends to grow even more in the coming years. “Our trade currently stands at USD 11 billion, which is very modest given the size of Brazil and the Republic of Korea. We will make this figure grow. And I believe trade relations between Brazil and the Republic of Korea will grow significantly,” he said.

We have much to learn from the Republic of Korea, especially its technological sophistication. And they have much to learn from us, particularly in the area of energy transition policy and in the discussion of critical minerals and rare earths. I believe this partnership will grow significantly"

Luiz Inácio Lula da Silva,
president of the Republic of Brazil

President Lula was in Seoul at the invitation of President Lee Jae-Myung for a series of official engagements. “My visit to the Republic of Korea is due to the fact that there is an elected president here whose life story is very similar to mine. We first met in Canada, there was an immediate connection between us, and I told him I would come to Korea,” Lula said.

On Monday, February 23, Lula took part in the closing ceremony of the Brazil–Republic of Korea Business Forum, in Seoul, where he signaled the intention to deepen trade partnerships with the Asian country. Agreements were also signed in areas such as agriculture, technology, pharmaceutical production, and the expansion of cultural and educational exchanges.

MERCOSUR — During the press conference, President Lula also underscored the intention of the Republic of Korea to resume negotiations towards a trade agreement between the Asian nation and MERCOSUR. “This agreement has been on hold since 2021. I reminded him [Lee Jae-Myung, President of the Republic of Korea] of the importance of resuming the discussions about this instrument at a time when the return of unilateralism is on the table, and he demonstrated his country’s interest in doing so. We will establish committees to begin the discussions and, Ele se summarized the Brazilian leader.

ORGANIZED CRIME —  Questioned about a possible meeting with the President of the United States, Donald Trump, President Lula stated that an agenda is being drafted and that one of the items will be organized crime. “I am preparing a discussion with Trump on the issue of organized crime. He knows that, when I go to the United States, I will bring with me the Federal Police, the Federal Reserve, the Ministry of Finance, and the Ministry of Justice and Public Security. I will let him know that, if he is really open to combating organized crime, drug trafficking and weapon trafficking, Brazil is ready to partner up. Because we are experts in this through our Federal Police,” Lula declared.

“I have an extensive agenda with President Trump to discuss Brazilian interests. Other items include the defense of multilateralism and democracy. And he also has his own agenda to discuss with me, and I can only wait for the meeting to happen,” Lula reaffirmed.

VISIT TO ABU DHABI — President Lula now heads to Abu Dhabi, the capital city of the United Arab Emirates. The visit will include a meeting with President Mohammed bin Zayed Al Nahyan. “We will discuss the commercial and political relationship between Brazil and the Arab Emirates. I believe we are not in need of another war; what we need is peace. We need investments and development, which is what will make the lives of the population better,’ Lula underscored.