1 of 1 Lula publishes video after end of table with business people (video image) — Photo: Reproduction/Instagram Lula publishes video after end of table with business people (video image) — Photo: Reproduction/Instagram
President Lula (PT) attended this Wednesday (29) the closing session of the BrazilSaudi Arabia Roundtable, an event promoted by the Brazilian Agency for Export and Investment Promotion (Apex) in collaboration with the Ministry of Investment of Saudi Arabia became.
In his speech to entrepreneurs and ministers, he stated that Brazil could achieve a trade balance of around $1 trillion.
“I think that if Brazil takes responsibility for its size and its geopolitical importance, I would like to say to our ministers and businessmen here that we can dream of a trade balance of $1 trillion in 2030,” he said.
“We only do things if we believe in them. And we can’t dream small. Because if you dream small, you will also achieve small things. “We need to dream big to implement big policies on the scale of Saudi Arabia and Brazil,” he also said.
Between January and November, Brazil’s trade balance was around $86.5 billion. During this period, the country exported around $300 billion while importing $213 billion.
The trade balance is the value of imports and exports of goods from a country. When the value of exported items exceeds those imported, the market speaks of an economic surplus. There in practice More money comes in than comes out.
To justify the $1 trillion, Lula said it was possible to reach the amount “depending on (the country’s) working capacity.”
Partnership between Brazil and Saudi Arabia
The president also noted in his speech that a partnership with Saudi Arabia is a way to boost the Brazilian economy.
“We want to build a real partnership, do things together so that both countries can win together,” he explained.
One of the solutions that Lula proposed during his speech was to create a mutual investment between Petrobras and Saudi Arabia to produce fertilizers on a large scale, given the uncertainty caused by Russia and Ukraine, two countries with a large presence in Turkey Export of goods.
Another point highlighted by the president is that Saudi Arabia’s presence in the BRICS, an economic bloc that brings together countries such as Brazil, Russia, India, China and South Africa, could change the face of multilateral banks that act as institutions for financing of projects that contribute to the development of a country.
“(The goal is) for banks to be able to finance the performance of poorer countries without lowering interest rates, which ultimately kills any investment opportunity in the countries,” he explained.
Lula is in Saudi Arabia to attend the United Nations Climate Change Conference, COP 28.