Brazil and South Korea agreed to speed up Mercosur trade discussions, form a working group and expand cooperation on critical minerals during talks in Brasilia.
South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed in Brasilia to accelerate discussions on a potential trade deal between South Korea and Mercosur, adding a working group to push the process forward as both sides seek broader commercial ties. Lula said Brazil would also receive a South Korean mission next month for a sanitary evaluation of Brazilian meatpackers, while Lee said the two countries agreed to expand cooperation in the critical minerals sector. The meeting came five months after a summit in Seoul and as Brazil looks to diversify trade while facing U.S. tariffs, with Lula also saying earlier on Monday that he and Chinese President Xi Jinping supported advancing talks on a possible China-Mercosur deal.