That address took place while the effects of the Asian crisis were still unfolding and in the wake of the Russian default, the subsequent collapse and rescue of the LTCM hedge fund, and the associated blowout in global risk premia. Brazil was in strife at the time, and the calls for a substantial overhaul of the global financial architecture were loud and strident.
The voice of the youth and the private business enterprises would need to ensure food security along with energy security. A country with 1.2 billion population can ill afford to depend on the outside world for meeting its needs for energy or basic food.