Iran After Balancing Trade With Brazil

IRAN NEWS ECONOMIC DESK

TEHRAN – Iran Chamber of Commerce, Industry, Mine and Agriculture Deputy Head for International Affairs Mohammad-Reza Karbasi says the private sector is after boosting trade with Brazil and balancing bilateral trade with the South American country.

Speaking at the meeting of Iran-Brazil Joint Chamber of Commerce, Karbasi said that despite all restrictions and problems in the national economy, efforts for boosting production to increase non-oil exports are positive, adding that Iran-Brazil Joint Chamber of Commerce is after balancing the current trade between both states.

During the meeting, the chamber proposed an new banking mechanism for constant relation with Brazil as well as presenting a mechanism for barter trade with Brazil and the issues were discussed.

He then pointed to his meeting with the governor of the Central Bank, saying that the governor supported the idea of bartering trade.

Karbasi reiterated that private sector should do its best for expanding exports, adding that strengthening non-oil exports of the country relies on the private sector’s efforts.

He also termed Brazil as an important and considerable market for Iran and called the current share of Iran’s trade with Brazil insignificant. He said Iran accounts only 0.5 percent of Brazil’s international trade.

He added that currently, 90 percent of bilateral trade between both states belongs to Iran’s imports from Brazil. He reiterated there is no balance in bilateral trade with Brazil and it should be reconsidered and it is possible only with endeavors of private sector and the government’s supports for providing the necessary grounds for exports.

Karbasi also added that bartering goods is another solution for improving condition for exports to Brazil.

Meanwhile Iran’s new ambassador to Brazil Mr. Hossein Gharibi, for his part, said trade growth should be pursued in collaboration with the private sector, adding that despite strange sanction on Iran’s Central Bank, Iran’s trade continues and it is indebted to the private sector.

He added that two issues should be noticed for improving trade level with Brazil. He said that first, both countries should keep the current trade level and then they should improve it. He added that Iran’s Embassy in Brazil provides necessary information for Iranian business activists and contacts between chambers of commerce of both countries should continue constantly.

Gharibi also said holding exhibition on Iran’s capabilities is another way for presenting Iran’s potentials to Brazilian business activists.

He urged Iranian companies to have active presence in exhibitions in Brazil.