1. The 7th Korea-Brazil High-Level Policy Consultation was held in Seoul on February 3, in which the two 
sides discussed in-depth ways to promote economy and trade; cooperate in energy and resources; and 
work together in the UN, G20 and on other international stages.

The Korean side was led by Deputy Foreign Minister Lee Yong-joon, while Under-Secretary-General on 
Political Affairs Roberto Jaguaribe of the Ministry of External Relations headed the Brazilian delegation.

Minister Yu Myung-hwan had met Under-Secretary-General Jaguaribe shortly before the Consultation and 
asked for the Brazilian side’s cooperation on matters of interest of the Korean side, including participation 
in the country’s high-speed railway project, and the start of negotiations for increased Korea-MERCOSUR 
(Southern Common Market) trade and investment. 

2. The two delegations reaffirmed the Korea-Brazil comprehensive partnership forged in 2004 for common 
prosperity in the 21st century, while acknowledging solid trust and friendship between their leaders as 
demonstrated by the four summit talks including the one held during President Lee Myung-bak’s official 
visit to Brazil in November 2008 and another on the sidelines of a G8 meeting. Also, they shared the view 
that President Lula’s planned attendance at the G20 Summit in Seoul this coming November will serve 
as another momentum for further promotion of bilateral relations.

3. Following a review of the events held last year in commemoration of the historic 50th anniversary of the 
establishment of diplomatic relations, the two sides agreed to work toward expanded and deepened ties 
between Korea and Brazil in the next 50 years.

4. The Korean delegates explained that the volume of trade with Brazil, Korea’s largest trade partner and 
second-largest export destination after Mexico in South and Central America, has recently seen a drastic 
increase to the US$10-billion level, and that Korean firms are making more and more investments in the 
country as can be seen by Hyundai Motor’s factory establishment in Brazil and Dongkuk Steel Mill Co.’s 
blast-furnace construction project. They then requested that their Brazilian counterparts work to further 
expand two-way trade and investment by playing a more active role in continued negotiations for the 
conclusion of a Korea-MERCOSUR trade agreement.

When asked by the Brazilian side for support with its plans for beef and pork exports to Korea, the Korean 
delegation explained that relevant procedures of import risk assessment are currently under way.

5. The Korean side requested to the Brazilian counterpart a special interest in and support for the 
Korean consortium so that it can take part in the US$20 billion high-speed railway project, the first in 
Latin America; cooperation in bio energy, shipbuilding, and aviation; and technology cooperation and 
information exchange between Korea and Brazil’s state-run oil firms, namely the Korea National Oil 
Corp. and Petrobras, for deep-sea oil exploration in Brazil.

Brazil voiced hope that the Korean-Brazilian Joint Commission on Science and Technology will convene 
this year with a view to bolstering cooperation in information and nano technology, and semiconductors.

6. Regarding the Korea-Brazil Forum, held four times since its inception in 2005, as a highly useful 
channel for enhanced mutual understanding and cooperation and for recommendations on long-term 
visions and strategies for bilateral-relations development, the two sides agreed on the extension of 
Forum activities.

7. The Korean side asked that the Brazilian side positively consider agreements on social security 
and on maritime-transport cooperation which the Korean government had proposed as strengthened 
institutional mechanisms for bilateral cooperation. The Brazilian side responded that it will work to 
make progress in this regard.

8. Taking note of close cooperation the two countries have maintained in terms of major global issues, 
including climate change, environment and the G20, the two sides agreed to work more closely together 
on the said issues. The Korean delegation elaborated on the North Korean nuclear issue and the 
security situation on the Korean peninsula, followed by a request to the Brazilian side for its 
contributions to the peace and stability on the Korean peninsula.

                                 Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation