Iran hopes its trade with Brazil could double within few years to reach an annual target of $10 billion, according to a senior businessman who watches over trade between the two countries.
Fakhreddin Amerian, who chairs Iran’s trade center in Brazil and heads the Iran-Brazil Joint Chamber of Commerce (IBJCC), said on Tuesday that the Iranian government has major plans to expand its trade relations with Brazil.
Brazil is a major trade partner for Iran. Its exports to Iran include animal feed and meat, among other products, while imports mostly cover fertilizers, including urea supplied by Iranian petrochemical companies.
“In 2021 we reached a record trade figure of $6.5 billion and urea shipments reached 1.8 million (metric) tons ... we can bring this figure to $10 billion” said Amerian as he addressed a meeting held by the IBJCC in Tehran which was attended by representatives from Iranian banks, businesses as well as government officials.
He said a large delegation of Iranian businesses and trade figures will travel to Brazil’s Sao Paulo in the next months to discuss increased investment and trade opportunities.
“We will organize comprehensive and important negotiations between Iranian and Brazilian businesses after many years,” said the businessman, adding that the Iranian delegation visiting Brazil would be one of the largest Iran has ever sent to other countries.
Amerian said Iranian banks are also planning to open branches and representative offices in Brazil to help boost trade between the two countries, adding that at least two Iranian banks would start operations in Brazil in the very near future.