On Wednesday, representatives from South Korea and Brazil held a video conference to discuss ways to increase cooperation between the two countries in the areas of trade, energy, and various industries. The Ministry of Trade, Industry, and Energy reported that the two sides discussed the potential to sign a bilateral Trade and Investment Promotion Framework (TIPF) to deepen their trade and investment ties. Additionally, they sought to work together on technology, energy, resources, digital issues, the green economy, and the bioeconomy.
The Ministry of Trade, Industry, and Energy stated that they will make efforts to create more business opportunities for South Korean companies and help them to overcome any difficulties they face when doing business in Brazil. This is especially true as the Brazilian government is pushing for “neo-industrialization” policies to stimulate growth.
Brazil is the leading country in South America and is abundant in resources such as nickel and rare earth minerals. The photo above, taken in 2019, shows a forum on South Korea-Brazil industry cooperation in Sao Paulo.