The head of the Iran-Brazil Joint Chamber of Commerce said the future of trade ties between the two countries remains promising, despite a relative slowdown in exchanges this year.
Fakhreddin Amerian said the private sector and the joint chamber were working to create better conditions for business activity between Tehran and Brasilia.
“The outlook for bilateral trade is encouraging,” Amerian said, adding that efforts were under way to facilitate cooperation and expand economic engagement.
He described recent tensions between Brazil and the United States as a potential opportunity for Iran to broaden trade with the Latin American nation.
Amerian, however, acknowledged that trade between the two sides has experienced a relative stagnation this year compared with previous years.
“In exports to Brazil, we have seen a decline this year,” he said, pointing in particular to lower shipments of urea fertilizer. Part of the decrease was linked to price volatility as well as supply and demand fluctuations in the destination market, he added.