TEHRAN (Iran News) –Chairman of Iran-Brazil Joint Chamber of Commerce says two Iranian banks will open soon their branches in Brazil while the first trade delegation of Iran will be dispatched to Brazil by the yearend.
Speaking in the first brainstorming meeting between state and private sector managers as well as representatives of banks, Chairman of Iran-Brazil Joint Chamber of Commerce Mr. Seyed Fakhreddin Amerian said that branches of two Iranian banks will be set up in Brazil, adding that the first trade and economic delegation of the country will be sent to the South American country in the near future to bolster bilateral trade.
Stressing the capacities for promoting exports of Iranian products to Brazil, Amerian said, “With the deployment of marketing structures, suitable ways will be paved for the entry of competent Iranian companies and economic activists to the lucrative Brazilian market.”
He pointed to the dispatch of Iranian trade and economic delegation to Brazil in the second half of the current year and added that economic cooperation with Brazil will be further strengthened after years of hiatus. He said that the delegation will be dispatched to Sao Paulo of Brazil and a big and important negotiation between businessmen of the two countries will happen after years.
In addition, a number of Iranian banks will establish branch offices in Brasilia, which will help traders to set up safe banking relations, Amerian stated.
A specialized and expert-level meeting was held recently between senior directors of public and private sectors, banks, chairmen of specialized commissions of the Iran-Brazil Joint Chamber of Commerce aimed at boosting synergy and spurring exports between Iran and Brazil concurrent with the inauguration of a trade center in this South American country.
Meanwhile in the meeting, Iran’s Ambassador to Brazil Hossein Gharibi said that opening of the trade center of Iran in Brazil is one of the best economic opportunities for the presence of Iranians in Brazil’s market, adding that one of the important tasks of this center is to study Brazil’s market and then paving the ground for the presence of Iranians in the exhibitions in Brazil because exhibition in Brazil is very important and he expects the relation with Brazil to broaden in different fields.
Gharibi also pointed to the historic record in the trade relation between Iran and Brazil which was set last year, noting that the total trade volume of Iran and Brazil was $6.5b in 2021 and some 1.8m tons of urea was exported to Brazil and if the urea market was stable, the condition would have become much better. He noted that the trade volume between Iran and Brazil was around $5b in 2020 and both countries can increase the figure to $10b, reiterating that the figure of trade volume is for the direct trade without involvement of the third party country.
Gharibi also said that diversifying trade with Brazil is one of the main goals, reiterating that Iran wants to have colorful presence in exhibitions in Brazil and it wants to have a pavilion in the upcoming exhibition in north Brazil.
He added that Saudi Arabia is the main oil supplier to Brazil but Iran has better condition in exporting oil products to Brazil and this will be strengthened.
He also blamed lack of direct shipping line to Brazil as one of the major challenges in way of Iran’s exports to Brazil, adding that currently one can use the capacity of Iran’s direct shipping line to Venezuela.
