Brazil Prez Lula urges G7 to invest more heavily in Global South
Sao Paulo, June 21
Brazilian President Luiz Inacio Lula da Silva has called on the world's richest nations to invest more heavily in the Global South, arguing that sustainable global economic growth depends on creating new consumers and opportunities in developing regions rather than concentrating wealth within advanced economies.
Speaking at a press conference in Geneva following his participation in the G7 Summit in France, Lula said countries in Latin America, Africa, India and China represent the next major consumer markets and should be at the centre of future investment strategies.
According to Lula, economic expansion cannot remain limited to developed nations. He stressed that creating jobs, increasing wages and attracting investment in developing countries would generate new consumers, strengthen global demand and help rebalance the international economy, as reported by brasil 247.
The Brazilian leader said he conveyed this message directly to G7 leaders during summit discussions on economic growth, international cooperation and emerging technologies, including artificial intelligence. He maintained that richer countries could support growth elsewhere without sacrificing their own standards of living, while simultaneously opening new markets for higher-value products and services.
Lula also highlighted the importance of industrialisation in countries rich in critical minerals and rare earth resources. While welcoming foreign investment and partnerships, he cautioned against repeating historical patterns in which raw materials are extracted and exported without generating long-term domestic development. He advocated value addition, technology transfer and local manufacturing to ensure economic benefits remain within producing countries.
On digital governance, Lula pointed to Brazil's measures aimed at protecting children and adolescents online, including restrictions on mobile phone use in schools and new digital safety regulations.
Brazil also endorsed G7 declarations on digital safety for minors, cancer cooperation and international efforts to combat drug trafficking.
In addition to the summit programme, Lula held bilateral meetings with several world leaders and welcomed progress on trade negotiations involving Mercosur, Japan and the European Free Trade Association, underscoring Brazil's push for stronger international partnerships and a more inclusive global economic order.
— ANI
Reader Comments
Very impressed with Lula's vision. He's talking about technology transfer and local manufacturing - exactly what we need in India too. But I wonder if the G7 will really change their ways? They've been extracting resources from our countries for centuries. Still, it's good that voices like Brazil and India are getting louder. Hope our PM Modi also pushes for this at the next summit.
Lula ke baat mein dum hai! But let's be honest - the developed world will never voluntarily give up their economic advantage. It's up to us in the Global South to build our own industries and markets. Look at how China and India have grown by focusing on manufacturing and services. We need more trade between Global South countries, not just begging the G7 for investment.
I love how Lula is talking about protecting children online and digital safety - these issues affect our youth in India too. My younger cousins are constantly on their phones, and schools here are also struggling with these problems. It's refreshing to see a world leader focus on both economic justice AND social welfare. Brazil and India should collaborate more on these initiatives!
Good speech, but Lula needs to walk the talk. Brazil itself has massive deforestation and inequality issues. Before lecturing others, clean up your own backyard. Same for India - we talk about Global South leadership but our own poor farmers are struggling. Still, the point about rare earth minerals is valid. We have so many resources, but without processing them locally, we stay poor.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.