President Lee discusses resuming the Korea-Brazil and Mercosur agreement negotiations
Korea-Mercosur trade agreement, talks to expand access to both countries' markets get underway in earnest Take a look at expanded cooperation in supply chains, energy, and semiconductors, as well as new investment opportunities
President Lee Jaemyung held a summit in Brasília with Brazilian President Luiz Inácio Lula da Silva and discussed a trade agreement between Korea and Mercosur as a task that can no longer be delayed.
After a 140minute meeting, the two leaders emphasized through a joint press statement the need for an agreement that could expand mutual marketentry opportunities for companies in both countries. President Lula said he would ensure there are no obstacles to resuming the agreement.
The two countries agreed to form a working group to discuss trade and economic cooperation and to expand cooperation in various fields, including supply chains, energy, aerospace, critical minerals, semiconductors, and the digital economy. They also agreed to strengthen cooperation related to the defense industry and space industry and signed seven memorandums of understanding in related fields.