South Korea Gets Green Light to Open Development Bank in Brazil

The Minister of Foreign Relations of Brazil, Celso Amorim, said yesterday that commercial relations between Brazil and South Korea may reach US$6 to 7 billion in two years.

According to Amorim, current exchanges between the two countries amount to US$ 3 billion, as per the Brazilian estimate, and US$ 4 billion, according to South Korea. The Minister says he does not know the reason why numbers are different.


For Amorim, the trip of the Brazilian delegation headed by President Luiz Inácio Lula da Silva represented the “consolidation of a special relationship,” because the President of South Korea, Roh Moo-Hyun visited Brazil in 2004.


During the press conference, the Chancellor mentioned the importance of the trip’s “business component.” He affirmed that there are many investment opportunities.


Amorim emphasized the “green light” given by President Lula for the establishment of the Bank of Development of Korea in Brazil, during a morning meeting with entrepreneurs.


The objective will be to offer support for investments of Korean companies, or of Korean interest in Brazil.


Agência Brasil

Tags:

You May Also Like

Brazil’s Embraer to Deliver Over 200 Jets in 2008

Brazilian aircraft maker Embraer, the world's leading manufacturer of commercial jets with up to ...

Brazilian Businessmen Haven’t Been That Optimistic Since 1999

In Brazil, owners of small businesses are optimistic regarding 2010, according to the Industrial ...

Brazil: Caetano Veloso Calls Lula Illiterate and Says He’ll Vote for Marina Silva

Caetano Veloso, renowned Brazilian singer-composer, gave his full support to Brazil's Green party presidential ...

Brazil Earmarks US$ 4.7 Million for 41 Stem Cell Research Project

During the next two years, 41 research projects involving embryonic and adult stem cells, ...

Brazil’ Bebel Gilberto: A Command Performance

Last August Bebel Gilberto was supposed to have débuted her new tour in New ...

Passengers wait in line at Brasília's airport

Only Prompt Federal Intervention Will Save Brazil from Air Traffic Mayhem

With each passing day, we get more and more the impression that this year’s ...

Brazil Opens Fair Season with LatAm’s Largest Shoe and Fashion Trade Show

Francal, the largest fair of shoes, fashion accessories, machinery and components of Latin America, ...

Ventania Puts Up Over US$ 500 Million for Brazilian Wind Farms

Controlled by the Portuguese company Martifer and the Brazilian Energia Global, the firm Ventania ...

Developed in Brazil Soybean Rust Warner Is on the Web

Syngenta Crop Protection yesterday launched its Syntinel RustTracker system, an early-warning Web-based system that ...

Brazil’s Jiu-Jitsu Becomes Required Course in the Emirates

Children between the ages of 10 and 14 in 12 public schools in Abu ...