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Brazil to boost trade with Iran

14 April 2010 0:37

Brazil has opened its doors to Iranian businessmen and welcomes any project, which will help the economy and encourage trade between the two countries.

“Iran is a big country in the region and enjoys considerable capacity to develop cooperation with Brazil,” Brazilian Development, Industry and Foreign Trade Minister Miguel Jorge said Monday in Tehran after visiting his Iranian counterpart Ali Akbar Mehrabian.

He expressed hope that the private and state sectors of the two countries would fill the existing gap in mutual trade.

A delegation of 120 businesspersons and industrialists, consisting of high-ranking officials of the economic and banking sectors, have accompanied the Brazilian Minister on his two-day visit.

Brazilian ambassador to Iran Antonio Salgado said Wednesday that since Brazilian President Luiz Inacio Lula Da Silva took office in 2003, the South American country began boosting relations with other countries including Iran, which is a regional power.

Brazil has repeatedly declared that it is determined to maintain its trade ties with Iran, despite Western calls for new sanctions against the Islamic Republic over its nuclear program.

Brazilian businessmen looking to do deals in Iran during a trip this week could run foul of US sanctions, officials told a leading financial newspaper Monday.

Brazil has defended Tehran’s stated goal of developing atomic energy.

The trade volume between Iran and Brazil reached 1.2 billion dollars last year.

Brazilian President Luiz Inacio Lula da Silva is planning to pay an official visit to Tehran in May.

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