Lula has a meeting with the Spanish president and King Felipe VI

President Luiz Inácio Lula da Silva meets this Wednesday (26) with the President of the Government of Spain, Pedro Sánchez, and with King Felipe VI. A signing ceremony is also planned. Spain is the last country on Lula’s visit to Europe, initiated by Portugal. Seal the Mercosur-European Union trade agreement and expand bilateral trade are among the topics of the trip. Spain and Brazil will assume command of the blocs to which they belong, the European Union and Mercosur respectively, for the next six months, starting in July. In a speech to Spanish investors this Tuesday (25th), in Madrid, Lula said he expected the officialization of the trade agreement by the member countries of the blocs still in 2023. “Brazil and Mercosur partners are engaged in dialogue to conclude negotiations with the European Union and we hope to have good news later this year. It is a very important agreement for everyone and we want it to be balanced and contribute to the reindustrialization of Brazil”, he said. Approved in 2019, after 20 years of negotiations, the Mercosur-EU agreement needs to be ratified by the parliaments of all countries in both blocs to enter into force. A procedure involving 31 nations. The president called on Spanish businessmen to invest in the Brazilian market, in the renewable energy sector, such as green hydrogen, wind, biomass and solar energy plants. Commercial relations Spain is the second largest foreign investor in Brazil, with an amount of US$ 63 billion, second only to the United States. More than a thousand Spanish companies are present in the Brazilian market, especially in finance and communications. Among these companies are Telefónica and Banco Santander. In 2022, Brazilian exports to the Spanish market doubled, reaching 9 billion euros, driven by crude oil, soy and corn. Imports from Spain grew 38% in the same year, led by oil derivatives, auto parts and fertilizers. Lula’s meeting with Pedro Sánchez will take place at the Moncloa Palace, seat of the local government. The President will have lunch with King Felipe VI at the Royal Palace. Afterwards, Lula and his entourage returned to Brazil.

Agência Brasil