Brazil's Economy Minister Paulo Guedes said on Thursday that Europe could lose Latin America like it lost Russia.

"I told the Europeans that they lost Russia and now they will lose Latin America, and they will be left alone if they do not understand that they need to integrate with those left behind," Guedes said at the World Economic Forum.

On the other hand, the minister said that even though Brazil's production was disrupted due to the coronavirus pandemic and the conflict in Ukraine, it still has a good chance to become a food supplier.

The World Economic Forum in Davos, Switzerland was launched Monday in-person for the first time in two years of interruption due to Covid-19, under the title "History at a turning point. Government Policies and Business Strategies", with the participation of a number of the world's most affluent people.

It is noteworthy that Russia was absent from the annual meeting, which focuses on the repercussions of the war in Ukraine.