Lula Sells Biofuel to South Koreans and Wants Them Investing in Brazil

    President Luiz Inácio Lula da Silva spoke about the Brazilian economy today to invite South Korean entrepreneurs to invest in Brazil, and to increase trading between the two countries.

    “Brazilian economy is going through a special moment,” said the President at the closing ceremony of the seminary “Brazil-South Korea: Trading and Investments Opportunities,” promoted by Brazil’s Ministry of Foreign Relations and the Brazilian Export Promotion Agency (Apex). “We have set the foundation for a long growing cycle,” he stated.


    Lula and the ministers who accompanied him focused, this afternoon, on defending the idea that Brazil is creating the right conditions to keep a sustained economic growth for a period of 10 to 20 years. The President recalled that, in 2004, Brazil’s Gross Domestic Product (GDP) increased 5.2%.


    President Lula also mentioned that South Koreans already keep important investments in Brazil, in the electricity, transportation, communications, construction, and automobile sectors. He asked for more partnerships in the electronics and ship construction areas.


    Lula talked about the possibility of Brazil exporting ethanol to South Korea, to be used as gasoline additive.


    “Along with biodiesel, ethanol will allow South Korea to diversify its sources of energy and, at the same time, reduce gas emission,” affirmed the President.


    Agência Brasil

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