Brazilian President Luiz Inácio Lula da Silva has declared in Lisbon that Portugal is strategically positioned to act as the primary access route for Brazilian companies entering the European Union (EU).
Speaking during discussions with Portuguese Prime Minister Luís Montenegro, the Brazilian head of state emphasised the advantages offered by the Mercosur-European Union Agreement. His remarks were reported by Brazil’s state owned news service, Agencia Brasil.
This trade pact, signed in January, is designed to encourage investment by significantly reducing or eliminating customs tariffs between the EU and the South American trade bloc (Argentina, Brazil, Paraguay, and Uruguay).
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President Lula da Silva advocated for more deeper collaboration, urging for production facilities to be established within Portuguese territory. He stated that key items negotiated between Brazil and the EU should be manufactured in Portugal, reinforcing value chains and called for enhanced cooperation in key strategic sectors such as the aeronautical industry, science, technology, and innovation
In response, Prime Minister Montenegro confirmed that Portugal would serve as a strategic partner to help Brazil strengthen its economic standing in Europe as the Mercosur-EU Agreement comes into effect.
This burgeoning partnership is underpinned by a significant Brazilian presence; official 2024 data estimates approximately 485,000 regularised Brazilians in Portugal. When accounting for citizens holding dual nationality, this figure could exceed 700,000, establishing Portugal as the second most popular destination for the Brazilian diaspora.