TEHRAN (Iran News) –Head of Iran-Brazil Joint Chamber of Commerce Fakhreddin Amerian says a Brazilian bank has voiced its readiness to finance 80% of capitals of Iranians who want to become active in extraterrestrial cultivation in Brazil and the remaining 20% of the capital should be provided by the Iranian investors who are eager to invest in different fields of extraterrestrial cultivation in Brazil.

Speaking to ILNA, Amerian touched upon the latest developments in the trade between Iran and Brazil and said that before the start of barter trade, Iran’s export of urea to Brazil has been less than $100m. He added that after barter trade between the two countries, the export volume rose and reached $1.5b and currently Iran imports meat, fruit concentrate, sugar, soya, corn and animal feeds from Brazil.

He went on to say that early talks are underway for import of cotton from Brazil and in return Iran is getting ready to export fruits like dates and raisins to Brazil.

He also revealed the support of an investing bank in Brazil for supporting Iranian investors for investment in the extraterrestrial cultivation in Iran by providing 80% of the total investment money and the remaining percentage should be provided by the investors.

Amerian noted that south of Brazil is a good area for cultivating wheat and rice and Brazilians are ready to provide Iranians with one hectare of land for cultivation and Iranians can buy the land if they like, and according to the guarantee of the agriculture ministry of Brazil, purchase of products is guaranteed.

He added that Brazilian agro minister during his visit to Iran expressed interest for purchase of Iranian fruits and saffron, adding that the chamber through cooperation of Iran’s ambassador in Brazil finalized the talks for export of Iranian fruits and it will start soon. He stated that but Iranian investors activists in saffron did not welcome the cooperation and therefore there is no demand from Iranians for export of saffron to Brazil.

He then pointed to the effects of sanctions and said that banking problems with Brazil still exist for goods which are traded by money and forex, reiterating that nothing has been raised for talks over creating a joint currency for trade between the two states.

Amerian reiterated that Brazil should decrease tariff on Iranian goods entering Brazil and so far Brazilian lawmakers have not taken any major action on it. He added that Brazil is one of the biggest food suppliers in the world, adding that Brazilians believe they can supply one-eighth of food required by the world and Iran’s imports from Brazil is considerable and stressed that almost half of Iran’s imported food stuff is from Brazil.

He said that Brazil needs Iran’s petrochemical products and 3m tons of urea, adding that the value of exporting 3m tons of urea to Brazil is around $3b but Iran so far has unable to supply such amount of urea to Brazil.

He reiterated that if the export of urea to Brazil was handed over to the private sector, it could meet the demands of Brazil while the government companies have been unable to export 400,000 tons of urea to Brazil.