Brazil’s President Luiz Inácio Lula da Silva and France’s President Emmanuel Macron announced a plan on Tuesday.
Their goal? To raise over 1 billion euros ($1.082 billion) for sustainable projects in the Amazon regions of both Brazil and French Guyana.
They chose Belém, Pará’s capital, for the announcement. This city will also host the 2025 UN Climate Change Conference (COP-30).
Macron’s visit to Brazil, which lasts until Thursday, highlights the plan’s significance.
The project relies on cooperation between Brazilian banks like BASA and BNDES and the French Development Agency, which is active in the area.
A key feature is a new France-Brazil scientific partnership managed by CIRAD and Embrapa. This move aims to propel sustainable sector research forward.
Moreover, under Brazil’s leadership, the governments are gearing up to reveal a comprehensive investment strategy for the bioeconomy at the G20 summit in Rio de Janeiro this November.
This initiative aligns with the Brazilian presidency’s broader goals to boost forest CO2 absorption, cut forestry emissions, and protect biodiversity.
Background
Although the EU-Mercosur trade agreement is a significant topic, it will not be discussed at these events.
The EU-Mercosur trade deal, negotiated between the European Union and the Mercosur countries (Brazil, Argentina, Paraguay, and Uruguay), aims to create one of the world’s largest free trade areas.
Despite agreement in principle in 2019, France leads the European opposition to the deal.
The Elysée has clarified that this matter is a dialogue between the European Union and Brazil and not subject to bilateral talks.
The EU-Mercosul/Mercosur trade negotiations showcase significant geopolitical and economic dynamics.
Spain’s Prime Minister, Pedro Sánchez, and Germany’s Chancellor, Olaf Scholz, supported the deal, contrasting French President Emmanuel Macron’s opposition.