On Monday, Brazil and South Korea finalized a cooperation agreement designed to enhance industrial ties between the two nations, focusing significantly on critical minerals and semiconductor development. This initiative arises from escalated tensions in the ongoing trade conflict between China and the United States, placing a spotlight on supply chains and resource management. The agreement not only highlights the importance of these sectors but also underscores both countries' strategies to diversify their economic partnerships.

The signed document outlines a wide range of cooperative areas, including technological integration, health issues, agribusiness, digital economy, artificial intelligence, and green economy initiatives. The broad scope of this agreement reflects both countries' recognition of the need to expand their collaborative efforts beyond just minerals and semiconductors, aiming for a more interconnected economic framework that supports mutual growth and sustainability.

Particularly noteworthy is the emphasis on the entire supply chain for critical minerals, from extraction to processing. This requirement aligns with President Lula's stance that foreign entities should only exploit Brazil's mineral resources if they commit to maintaining processing industries within the country. This approach aims to ensure that Brazil can retain economic value from its resources, fostering local industry development and job creation while enhancing its bargaining power in international markets.