Sao Paulo [Brazil], June 21 (ANI): 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)
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