Meeting between presidents Luiz Inácio Lula da Silva and Lee Jae-myung marks a new stage in bilateral economic relations
The presidents of Brazil and South Korea agreed this Monday (23), in Seoul, to resume negotiations for a free trade agreement between the Asian country and Mercosur.
After a bilateral meeting, South Korean Lee Jae Myung and the announced a set of agreements in several areas, from agriculture to business cooperation, without leaving aside “K-beauty” products, as Korean skin care products are known.
“Regarding the free trade negotiations between Brazil and the Republic of Korea, we discussed ways to resume the interrupted negotiations in 2021,” said Lula at a press conference.
Lee stated that the two agreed that the benefits of economic cooperation “must be extended” to neighboring countries.
“Brazil is a key member of Mercosur. I reiterated the need to resume negotiations for a free trade agreement between Korea and Mercosur, and President Lula agreed,” declared Lee.
Lula highlighted that the two countries presented an action plan “with concrete initiatives for the next three years”.
“Brazil is the main destination for Korean investments in Latin America and, with 11 billion dollars, Korea is our fourth commercial partner in Asia”, he stated.
He also said that his visit to Seoul “concludes a fundamental cycle of Brazilian foreign policy in my third term. In the last three years, we have strengthened relations with Asia, the dynamic center of the world economy. I visited China, India, Indonesia, Malaysia and Vietnam.”
Before the meeting, Lee stated that he and Lula managed to reach the top after difficult childhoods.
Lee worked in a textile workshop to support his family, while Lula had to drop out of school to work and help his family.
Lula arrived in South Korea from India and will also visit the United Arab Emirates.
*AFP
