"Brazil will be the Saudi Arabia of renewable energy in 10 years", says Lula

The combination of social development, inequity reduction, job creation and energy transition. A proposal for private-public collaboration to provide the world with a cleaner, renewable energy matrix connected to today's challenges. A challenge to Arab and Brazilian entrepreneurs to be more daring in forging a new chapter in bilateral relations. With these messages, President Luiz Inácio Lula da Silva concluded a round table discussion for entrepreneurs and government representatives from both countries in Saudi Arabia on Wednesday, November 29.

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If Saudi Arabia is the most important country in terms of oil and gas production, in ten years, Brazil will be known as the Saudi Arabia of green, renewable energy. That is what we are aiming for"

Brazil's President, Luiz Inácio Lula da Silva

Lula emphasized Brazil's environmental commitments to a clean and renewable energy transition, reducing deforestation in the Amazon to zero by 2030, and the prospects for investment and growth in Brazil in the coming years, when the country will be in the international spotlight as it hosts some of the world's most important events, including the G20 and BRICS summits, as well as COP 30 in Belém, Pará, scheduled for 2025.

"I expect Saudi Arabia to assist us not only in organizing the G20, but also in organizing COP 30. These are opportunities to bridge cultural gaps and share development and investment policies. In ten years, if Saudi Arabia is the most important country in terms of oil and gas production, Brazil will be known as the Saudi Arabia of green, renewable energy. That is what we are aiming for," he said.

The president emphasized that Brazil already has examples to show the rest of the world, with a mostly renewable energy matrix and significant advances in alternatives to fossil fuels and pollutants like wind, solar, hydroelectric and the potential for green hydrogen.

"We will do everything in our power to make Brazil the world leader in alternative energy production. We must all work responsibly to decarbonize the planet so that we can live more dignifiedly, with a higher quality of life, and without fear of destroying the house we live in," president Lula added.

He highlighted that COP 30 will provide an opportunity for the world to learn about the Amazon, not only in terms of its mineral and biodiversity riches, but also of the people who live there. "The entire world is talking about the forest, about fresh water in Brazil. Because the world will finally understand what the Amazon is. Not just the millions of trees visible from the air. There are numerous critical minerals that have yet to be discovered. The world's richest biodiversity, but there are also people who need to survive. They are fishermen, riverside dwellers, indigenous people, and Brazilians who need the Amazon not only preserved, but also given a chance to survive in order to provide decent living conditions for people," he concluded.

ARTICULATIONS - During his trip to Saudi Arabia, president Lula met with Saudi Crown Prince and Prime Minister Mohammed bin Salman, whom he invited on an official visit to Brazil. Ministers and businesspeople from both countries also exchanged information and opportunities. Embraer announced three memorandums of understanding in the aerospace sector with companies and the Saudi government.

Throughout the conversation, which lasted over two hours, Lula emphasized Saudi Arabia's ability to strengthen the bloc's bank, which could help change the face of multilateral banks. "I told the crown prince that Saudi Arabia's entry into BRICS could change the face of multilateral banks, which could start financing the development of poorer countries without steep interest rates," Lula said.

The Brazilian leader took the opportunity to emphasize that the prospect of diplomacy and agreements reached at negotiating tables is always more effective in building a better future for humanity, as opposed to the wars that have not only caused death and destruction, but also economic consequences for the planet.

"Wars bring nothing but misery and death and the destruction of what people have built with great sacrifice. I was born into politics through dialog. It is cheaper, more sensible, more effective to spend hours at a negotiating table than to kill children, women, innocent people, men," said the president.

Brazil's President Lula and president of Apex, Jorge Viana, with Saudi Arabia's authorities in Riyadh. Photo: Ricardo Stuckert / PR

EXCHANGE - The president explained the concept of exchange, of partnership, of not just being interested in what Brazil can sell to Saudi Arabia, but in what the country and its entrepreneurs can acquire from the Arabs to provide economic and social growth for both sides.

"We're not just interested in knowing how much Saudi Arabian funds can invest in Brazil, but how much Brazilian entrepreneurs can invest in Saudi Arabia. This exchange and this new way of doing foreign policy could change the face of world trade a little," he said.

That is why he advocated that the meeting held now should only be the kick-off for many others with the members of the Arab country. "The challenge set by me and the Crown Prince is that our ministers and businesspeople don't stop at this meeting. This is just the first. They now know that our country has a good intellectual, scientific and technological base, a solid financial system, including private, investment and retail banks, as well as five large public banks, and many innovative companies," said the president.

Lula encouraged entrepreneurs from both countries to dream big. "When I became president in 2003, we didn't even have a trade balance of 100 billion dollars. If Brazil takes responsibility for its size and geopolitical importance, it can dream of a trillion-dollar trade balance by 2030. We can only do it if we believe in it. We have to dream big, the size of Saudi Arabia and the size of Brazil," he said.