Referring to expensive transportation and lack of a trade agreement between Iran and Brazil, President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) called for examining the possibility of barter trade between the two countries.
Gholam Hossein Shafei made the remarks during a seminar in Tehran on exploring the chances for trade between Iran and Brazil.
The seminar was also participated by the Chairman of Iran-Brazil Joint chamber of Commerce, and the ambassadors of the two countries.
Iran attaches special significance to trade relations with Brazil particularly for meeting its needs for essential goods and foodstuff, Shafei said, adding that the wide area and big population of Brazil have also turned the country into an attractive market for Iranian products.
The Iran Chamber chief also referred to several billion dollars of trade between Iran and Brazil and noted that the Brazilian private sector has not only maintained its trade with Iran during the sanctions on Tehran, but has even increased the level of trade with the country.
He said that Iran had some $1.15 billion of direct imports from Brazil in 2020 while its exports to the Latin American country stood as few as $116 million.
Shafei noted that corn, soybean, edible oils, sugar, meat and coffee were Iran’s main import items from Brazil while mining and industrial sectors were paid less attention.
The officials need to prepare the ground for barter trade between Iran and Brazil so as to barter Iranian petrochemical products for Brazilian animal feed, Shafei said.
He also underlined the need for launching a direct shipping line between the two countries and a direct airline between Tehran and Sao Paulo.