President Lee Jae Myung, left, and Brazilian President Luiz Inacio Lula da Silva pose for a photo after their summit at the Brazilian presidential palace in Brasilia, July 27. Yonhap
BRASILIA — President Lee Jae Myung said he and Brazilian President Luiz Inacio Lula da Silva agreed Monday that a trade pact between South Korea and the South American trade bloc Mercosur should not be delayed any further.
Lee made the remarks during a joint press announcement with Lula at the Brazilian presidential palace in Brasilia following their summit. Lee is currently on a state visit to Brazil as part of his three-nation South America tour, which also includes stops in Chile and Argentina.
"In an era of growing uncertainty in the trade environment, a trade agreement between South Korea and Mercosur is an important task that cannot be delayed any further," Lee said.
Mercosur, also known as the Southern Common Market, is a trade bloc established in 1991 by Argentina, Brazil, Paraguay and Uruguay. Bolivia is also a full member, while associate members include Chile, Colombia and Peru, among others.
