• Categories
  • Archives

Brazil Lula’s Biofuel Boosting Tour Takes Him to Spain

Brazilian president Lula and Spanish counterpart Zapatero Brazilian President Luiz Inácio Lula da Silva arrived this weekend in Spain where beginning Monday, September 17, he has a heavy schedule of political and economic meetings. He is in search of more investments  from Madrid.

On Monday Lula and his delegation of top officials from Brazilian government and private companies, will open a trade and investment forum with the cream of Spain's business and financial community.

The forum is in the framework of the Growth Acceleration Program announced by Lula when he was re-elected last year and is based on massive infrastructure investment to ensure 4% to 5% annual growth of the Brazilian economy.

"The idea is to generate a second wave of Spanish investments in Brazil", said a top official from the delegation. Spain, which until the early nineties virtually had no investments in Brazil, has become the second foreign investor behind the United States, totaling an estimated US$ 35 billion.

But the Brazilian president is also interested in political talks with president José Luis Rodriguez Zapatero and cooperation in several areas of Latin America to ensure political stability, with particular emphasis in Bolivia and Ecuador that have become "turbulent" areas for foreign investors particularly in the oil and gas industry.

The Brazilian president arrived in Madrid from a six day visit to Scandinavian countries, the first ever by a Brazilian leader. Lula has visited Finland, Sweden, Denmark, and Norway, always promoting the use of biofuels. Brazil is the world's biggest ethanol exporter.

Brazil and Spain are also scheduled to sign several bilateral agreements on energy cooperation, mainly bio-fuels and promotion of scientific activities.

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Your email address will not be published.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

Brazil Gets a Chance in London to Show Its Credentials as Global Leader

World leaders convened in London for the highly anticipated G20 summit. Without a doubt, ...

Brazil Spends 16% of Its GDP in Social Programs

The Social Direct Budget of the Brazilian federal government in 2004 was US$ 98.98 ...

Mato Grosso: Work of a Weary God

Mato Grosso! Brazil’s vast savannah is not nearly as famous as the Amazon, so ...

Brazil’s Scots Invited to Lend a Hand to Historical Tapestry Project

Expatriate Scots and descendants of Scottish immigrants across the world are being invited to ...

Genetically Modified Crops Heat Up Brazil’s Environment Meeting

The transposition of the São Francisco River and transgenic foods are the issues generating ...

Half of Brazil’s Corporate Shares Are Bought by Foreigners, Mainly from the EU

Foreign investors were responsible for 45-50% of the transactions effectuated to acquire shares of ...

Brazil Hikes Key Interest Rates to 12% in Attempt to Halt Over 6% Inflation

In a decision that surprised the market, which expecting a bigger hike, Brazil’s central ...

In Meeting with Brazilian Leader, Indian Premier Asks for Time-Bomb Action

Brazilian President Luiz Inácio Lula da Silva has been meeting with the leaders of ...

Rio Arrests Drug Lord of Rocinha, Its Biggest Favela, in Preparation for Olympics

Earlier today, Rio police arrested Antonio Francisco Bomfim Lopes, alias Nem, the drug lord ...