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Brazil willing to buy LNG from Iran: Zangeneh

28 October 2015 12:16



Iran’s oil minister says Brazil has indicated its willingness to buy liquefied natural gas (LNG) from Iran and the two countries are going to hammer out the details of this issue in later talks.

Bijan Zangeneh made the remarks in an interview following his meeting with the visiting Brazilian Minister of Development, Industry and Foreign Trade Armando Monteiro in Tehran on Tuesday.

He added that the two countries have decided to set up a joint working group to follow up on this issue.

“Brazilians are willing to buy LNG from Iran and the two sides have decided to continue negotiations in this regard and set up a joint working group by Brazil’s Ministry of Mines and Energy and Iran’s Ministry of Petroleum to follow up on today’s talks,” he said.

Zangeneh further noted that the two countries are also willing to cooperate for manufacturing oil industry equipment.

“Brazilians can invest in manufacturing of necessary [oil industry] equipment under creditable brands in cooperation with Iranian manufacturers and the products will be both used inside the country and exported to other countries,” he added.

Monteiro arrived in the Iranian capital, Tehran, on Monday to explore ways of bolstering economic relations between Tehran and Brasilia.

He is accompanied by a delegation representing various economic sectors of the Latin American country, including officials from Brazil’s chamber of commerce, central bank, economic officials of Brazilian Foreign Ministry as well as businesspeople and economic activists.

Strengthening relations between Tehran and Brasilia in such areas as foreign trade, energy, banking, agriculture and investment are the main goal of Monteiro’s Tehran visit.

Monteiro also took part in a conference dubbed “opportunities for cooperation between Iran and Brazil” on Monday, where he said, “Iranian and Brazilian companies can work to bolster necessary grounds for development of industrial and trade relations between the two countries.”

Brazil is currently the world’s seventh largest economy, which is a member of the BRICS group of emerging powers that also includes Russia, India, China, and South Africa.

Brasilia is Tehran’s most important economic partner in Latin America and the volume of bilateral trade amounts to about USD 1.6 billion a year.

Meat, sugar and maize are Brazil’s most important export goods to Iran, which in return exports carpets, raisins, and petrochemical products to Brazil.

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