According to President Jagdeo, he and his counterpart discussed a number of multilateral issues including the Free Trade Area of the Americas (FTAA) and the World Trade Organisation (WTO), especially as they relate to special and differential treatment for small economies.

At the invitation of Brazil's President Ignacio Lula DaSilva, President Jagdeo and a team of Government Ministers including Minister of Foreign Affairs Rudy Insanally, Minister of Education Henry Jeffrey, Minister of Transport and Hydraulics, Anthony Xavier, Minister of Tourism, Industry and Commerce Manzoor Nadir and the Head of GOINVEST Geoffrey DaSilva were in Brazil from July 29-31.

According to the Guyanese Head of State, he fully supports the vision of the Brazilian Leader to bring South American countries closer together. "It is President Lula's vision to bring the countries into an organic whole and better coordinate their position in the international arena," Jagdeo said. He noted the initiatives of President Lula to link the infrastructure of several countries and by doing so, bring the people closer together.

President Jagdeo said, South America could, as group, have a significant impact on world public opinion. He noted that should there be a form of synergy between CARICOM and South America, then Guyana would have a strategic straddling role between the two sub-Regions, and together the two could make a big impact on the world scene.

According to President Jagdeo, during his encounter with President Lula, several problems including poverty were raised. He noted that Brazil, though it is the world's eighth largest economy, still has severe poverty. A large number of Brazilians (45 percent) live in extreme poverty.

The Guyanese Head of State said discussions between the two leaders also centered on the Free Trade Area of the Americas (FTAA) and the World Trade Organisation (WTO), especially on the issue of special and differential treatment for small economies.

He has observed the efforts of President Lula to address this issue at various international bodies. During the visit he sought to get President Lula involved in reforms of the multilateral institutions including the UN, but more importantly in the reform of the Multilateral Financial Institutions.

Jagdeo said he urged that Brazil consider becoming a non-borrowing member of the Caribbean Development Bank.