On Wednesday, the South Korean Ministry of Trade, Industry and Energy reported that South Korea and Brazil held a video conference to investigate methods to reinforce their partnership in areas such as trade, energy, and various industrial sectors.
The two countries discussed the possibility of signing a Trade and Investment Promotion Framework (TIPF) to broaden their trade and investment relations. They also discussed collaborating on technology, energy and resources, digital issues, green economy, and bioeconomy.
The Ministry of Trade, Industry and Energy declared that they will work to create more business opportunities for South Korean companies and assist them with any issues they may have while doing business in Brazil.
The Brazilian government’s “neo-industrialization” policy measures could increase the potential of bilateral cooperation.
Brazil is the leading market in South America and is abundant in resources and minerals, such as nickel and rare earth minerals.
A forum was held in Sao Paulo on May 21, 2019 to discuss South Korea-Brazil industry cooperation.
This file photo, taken May 21, 2019, shows a forum on South Korea-Brazil industry cooperation in Sao Paulo. (Yonhap)