LatinNews Daily - 10 July 2025

*Brazil’s President Luiz Inácio Lula da Silva has held a meeting in Brasília with his Indonesian counterpart Prabowo Subianto, after which the two heads of state released a joint statement calling for an increase in bilateral trade flows. According to Brazilian government figures, total bilateral trade reached US$6.34bn in 2024 of which US$4.46bn were Brazilian exports. Brazil’s main exports to Indonesia include agricultural products such as soymeal and cotton, while Brazil mainly imports products such as textile materials, refined palm oil, and vehicle components from Indonesia. The communiqué called for further engagement between Brazil and the ten-member Association of Southeast Asian Nations (Asean) as well as between Indonesia and the Southern Common Market (Mercosur), a regional trade bloc comprising Brazil, Argentina, Paraguay, Uruguay, and Bolivia. With Brazil holding the Mercosur presidency for the second half of 2025, the presidents expressed a “willingness to begin discussions” for a cooperation framework that will include a comprehensive economic partnership agreement (Cepa). Lula has not confirmed whether he will visit Indonesia later this year, but he is planning to attend the Asean summit in Malaysia this October, where Brazilian and Indonesian delegations are expected to meet again.

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