Brazil and South Korea Sign Common Prosperity Deal

The presidents of Brazil and South Korea, Luiz Inácio Lula da Silva and Roh Moo-Hyun, met yesterday in BrasÀ­lia and signed a memorandum of understanding on energy and mineral resources.

According to the director of the Department of Asia and Oceania at the Ministry of Foreign Relations, Edmundo Fujita, the two presidents also discussed bilateral investments and trade.


They also consolidated a bilateral agreement known as the “Broad Relationship of Cooperation for Common Prosperity in the XXI Century,” which covers areas seen as strategic by both countries, such as information technology, natural resources and science and technology.


“As Brazil seeks to discover Asia, Asia seeks to discover Brazil,” declared Fujita, referring to the fact that the Roh Moo-Hyun visit occurred just after the departure of the president of China, Hu Jintao, and will be followed by the arrival, today, of the president of Vietnam, Tran Duc Luong.


Among Brazil’s Asian trade partners, South Korea is the third biggest (behind China and Japan).


Bilateral trade from January to September of this year reached US$ 2.3 billion, with Brazil running a trade deficit with South Korea.


Most Brazilian exports to South Korea are of low aggregate value (mainly raw material), while South Korean imports are of high aggregate value (mostly manufactured goods).


South Korea has made large investments in Brazil; for example, its Samsung (electronics) and Hyundai (autos) factories.


Agência Brasil
Translator: Allen Bennett

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

A Brazilian

Want to Be a Prostitute? The Brazilian Government Can Teach You How

The Brazilian government maintains in the site of the Labor and Employment Ministry a ...

The Art of Deception

Americans and the rest of the world are watching different wars on TV: the ...

Petrobras to Invest US$ 54 Billion in 5 Years

Petrobras is going to invest US$ 3.275 billion in the southeastern Brazilian state of ...

Brazil Starts World’s Largest Mass Vaccination Against Polio

The Brazilian Ministry of Health’s goal for this year’s vaccination campaign against poliomyelitis, which ...

Investors from US, Japan and Europe Are in Brazil for WFIC Congress

Starting today and running through Sunday, September 21, Brazil is holding the World Individual ...

Exploring the Intimacy of Palestine Refugees in Brazil

Stela Grisotti and Paschoal Samora packed their bags and traveled to Jordan to spend ...

Landless Movement in Brazil

To Brazil’s Landless Lula Is an Impostor and the Bankers’ Best Friend

As Brazil approaches the 10th anniversary of the April 17, 1996, Eldorado dos Carajás ...

Brazil’s Embraer Betting Arab Market Will Take Off

After successful participation in Dubai Air Show, a trade fair for the aviation sector ...

A Chinese-Brazilian satellite, the CBERS

Brazil and LatAm Should Get Ready to Sell China Added-Value Products

The trade honeymoon between China and Latin America cannot last forever, experts warn: sooner ...

Vale Buys for US$ 3.8 Billion Bunge’s Fertilizer Operation in Brazil

Brazil’s mining company Vale and multinational company Bunge announced the signing of an agreement ...