The economic forum will be sponsored by the Inter-American Development Bank and will feature many executives of Colombian and Brazilian corporations as well as the Colombian minister of agriculture. President Santos will meet with Lula with the hope that by working together, the forum members will identify even more entrepreneurial opportunities between the two countries.
Ex-president Lula has supported efforts to improve pan-South American development and spoke enthusiastically Monday about the region’s prospects.
Lula claimed that “South America has an extraordinary and historic opportunity,” and noted that “our region is experiencing the best moments of democracy and there are no serious border disputes.”
The former president further explained that South America’s political stability could lead to economic development that could facilitate South America’s emergence as a serious player in global politics.
Brazil’s economy currently dominates the South American region with a GDP of $2.18 trillion, more than five times larger than the next largest South American economy. Venezuela, Argentina, and Colombia are ranked second, third, and fourth with Colombia’s economy producing $229 billion a year. Brazil’s economy is currently the eighth largest in the world.