G20 Country Brazil: Balancing Tradition And Transformation With Diverse Impact

Brazil will host the G20 meeting in 2024, a first for the country.

G20 Country Brazil President Luiz Inacio Lula da Silva

Source : Getty

President: Luiz Inácio Lula da Silva

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Luiz Inácio Lula da Silva is the co-founder of the Workers’ Party. He served two terms as President of Brazil between 2003 and 2010 before returning for another term. He is known for leading the country through a period of economic growth. 

Brazil has been a full member of the G20 since the bloc was formed in 1999 after the 1997 financial crisis that hit Asia. The largest nation in South America is a prominent member of the premier forum for international cooperation on financial and economic issues. With its rich cultural heritage, vast natural resources, and a rapidly growing economy, Brazil plays a crucial role in shaping global discussions on diverse matters within the G20 framework. 

At the 2022 G20 summit, held in Indonesia, Brazil was represented by former Minister of Foreign Affairs Carlos Alberto Franco França, and this year, newly elected President Luiz Inácio Lula da Silva will attend the G20 Summit in India.

Brazil will host the G20 meeting in 2024, a first for the country. The annual meeting of the heads of states and prime ministers of the member nations will be held in Rio de Janeiro. Brazil, Latin America’s largest economy, represents the region at the G20 together with Argentina and Mexico. In 2008, a meeting of G20 finance ministers was held in Brazil’s Sao Paulo.

The economy of Brazil sees major contributions from mining, agriculture, and manufacturing, and it is witnessing rapid growth in the service sector. It is also a leading producer of various minerals, including iron ore, tin, bauxite (the ore of aluminium), manganese, gold, quartz, diamonds, and other gems, and it exports steel, automobiles, electronics, and consumer goods.

As a key agricultural powerhouse, Brazil influences global food security and environmental debates within the G20, which together represent 65 percent of the world's population, 75 percent of the global trade, and 85 percent of the world's economy.

The other members of the G20 are --  Argentina, Australia, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, and the US, as well as the European Union.