Brazil’s President Lula da Silva urges deeper business cooperation with Malaysia, noting bilateral trade potential remains underutilised.
KUALA LUMPUR: Brazilian President Luiz Inácio Lula da Silva has called for stronger economic and business cooperation with Malaysia.
Speaking at a media conference during the 47th ASEAN Summit, he emphasised the private sector’s role as the true engine of bilateral growth.
“It is the businessmen who know how to negotiate, who have their own interests as well as knowledge and therefore, the government’s role is to ensure that in every line of business, we bring a delegation of Brazilian entrepreneurs,” he said.
The Brazilian President noted bilateral trade between Brazil and its key partners, including Malaysia, stands at approximately USD 12 billion.
He described this figure as minimal compared to the economic potential of these markets.
Lula da Silva urged Brazilian officials and corporate leaders to be bolder in expanding their international presence.
He called for active promotion of Brazil’s industrial capabilities abroad.
In 2024, Brazil was Malaysia’s second-largest trading partner in Latin America.
Total bilateral trade reached RM20.36 billion (USD 4.46 billion).
Malaysia’s exports to Brazil included electrical and electronic products, palm oil, rubber and halal pharmaceuticals.
Malaysian imports from Brazil comprised ores, processed food and petroleum products.
Lula da Silva is on a three-day visit to Kuala Lumpur from October 25 to attend the ASEAN summits.
Brazil has been an ASEAN sectoral dialogue partner since 2022.
Over 25 years, trade between Brazil and ASEAN has increased more than 16 times.
Brazil’s trade flow with ASEAN was USD 2.3 billion in 2000, reaching USD 37.2 billion last year. – Bernama
