*Brazil’s President Luiz Inácio Lula da Silva has hosted a meeting with the South America head of Japanese car manufacturer Honda, Arata Ichinose, in which the company confirmed that it would invest R$4.2bn (US$806.5m) in its operations in Brazil from 2024-2030. According to a government press release, this latest investment brings the total investments from international carmakers announced this year up to R$130bn. Honda’s investment comes after another Japanese car manufacturing giant, Toyota, announced new investments last month. In January, Lula spoke on the phone with Japan’s Prime Minister Fumio Kishida about boosting bilateral cooperation and a possible trade deal between Japan and the Southern Common Market (Mercosur) – comprising Brazil, Argentina, Paraguay, Uruguay, and Bolivia. Lula is likely to make more calls for deeper cooperation with large Asian economies in the G20, as Brazil currently holds the annual rotating presidency of the group. Kishida is reportedly due to visit Brazil and Paraguay in early May.
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LatinNews Daily - 22 April 2024
In brief: Japanese carmaker Honda launches investments in Brazil
- ECUADOR: Voters back sweeping security reforms in referendum
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- BRAZIL: Bolsonaro and far-right supporters rally in Rio
- In brief: Japanese carmaker Honda launches investments in Brazil
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