Lima  - Brazilian President Luiz Inacio Lula da Silva said Saturday at a business meeting in Lima that South America is in top form.

"South America is going through a magical moment," Lula told the second seminar on Brazilian Trade and Investment Opportunities.

"I do not recall having had in my whole political life such a reasonable combination of economic growth, macroeconomic stability and, at the same time, a strong policy of social inclusion," Lula stressed.

The Brazilian president said that in his political career and during his time as a trade union leader he learned that it was "essential that the economy grew in order to have something to distribute" among the poorest parts of society.

Lula took part in the fifth European Union-Latin America and the Caribbean (EU-LAC) summit Friday in Lima, which called to combat poverty and counter the impact of the current food crisis in order to protect those who are most vulnerable to its impact. (dpa)