[Title] Remarks by Prime Minister Kishida at the Japan-Brazil Business Forum

Your Excellency Vice President Alckmin,

Distinguished Brazilian company representatives, and

Distinguished company representatives and others traveling from Japan,

Boa tarde.

I would like to express to you my wholehearted appreciation for the great contributions you have made through your day-to-day business operations in various fields towards building up the bilateral economic relations between Japan and Brazil.

Brazil enjoys an abundance of food, energy, and mineral resources and there is tremendous potential for bilateral cooperation in the economic field. Roughly 680 Japanese companies have local operations in Brazil at present. I understand that here, São Paulo, is the very heart of that activity, with a sizable number of Japanese companies also operating in other areas all around Brazil, including the Amazon region.

I know that the Lula administration is now pursuing new industrialization that includes the digital and green sectors. Historic tax reforms are also being promoted, and efforts to improve the business climate through the simplification of taxes and other means are being actively observed by Japanese companies as well.

In the energy sector, Brazil has potential in the areas of hydrogen and ammonia as well as biomass raw material. Many are watching Brazil intently, with Japanese companies also participating in efforts and projects related to these areas.

With regard to the field of decarbonization as well, under the Japan-Brazil Green Partnership Initiative that President Lula and I jointly announced yesterday, I renewed my determination to strengthen Japan-Brazil bilateral cooperation, with the public and private sectors working in cooperation with each other.

During this visit, here in Brazil we agreed during our summit meeting to launch the ISFM, the Initiative for Sustainable Fuel and Mobility. This Initiative will contribute towards achieving global carbon neutrality by connecting Brazil's high potential in biofuels and e-fuels with Japan's advanced technologies.

This year, Brazil will chair the G20 (Summit on Financial Markets and the World Economy) and next year, alongside us marking the 130th anniversary of the establishment of Japan-Brazil diplomatic relations, Expo 2025 Osaka Kansai will be held, with participation from Brazil. This momentum provides us with an excellent opportunity to make our bilateral people-to-people exchanges increasingly dynamic, including among people engaged in business. Our short-term stay visa exemption arrangements for Brazil for ordinary passport holders that we brought about last year will also help to support more vigorous people-to-people exchanges.

I have been accompanied during this visit by an economic mission of representatives of 46 Japanese companies and other entities. Some 40 MOUs (memorandums of understanding) and other agreements in various areas have been concluded, powerfully demonstrating the great expectations that Japan holds towards Brazil.

The Government of Japan will build up our trade and investment ties further, including in the digital and green sectors, with the help of you in the business community. We will also strengthen the support we provide for Japanese startups operating in Brazil.

I very much hope that at today's Business Forum the participants from Brazilian companies and from Japanese companies operating in Brazil liaise actively with each other. I have great expectations for this Forum to be a rewarding opportunity that fosters further development and prosperity for both Japan and Brazil.

Thank you very much for your attention. Muito obrigado!