A high-ranking Brazilian official on Monday met with Iranian counterparts to discuss development of bilateral ties in trade and environmental issues, among others.
Fernando Collor de Mello, a former president of the South American country who is currently chairman of the Brazilian Senate's Foreign Affairs and National Defense Committee, held talks with the new Iranian Minister of Economic Affairs and Finance Farhad Dejpasand.
Expansion of bilateral ties, especially in trade, banking, agriculture, transport and environment sectors, was the main topic of discussion among the high-ranking officials, according to Shada, the official news website of the Economy Ministry.
"By deepening economic relations, we need to witness the interests of both countries grow," Dejpasand said, adding that the current trade level of below $1 billion per annum is unsatisfactory.
"Brazil has many good capacities to develop relations with Iran," Collor de Mello said, adding that his country is ready to boost trade, transport, agriculture and medical ties with Iran.
Both officials agreed that a joint commission to review ways of boosting economic cooperation be established by the end of March 2019.
They also discussed a $1.2 billion Brazilian line of credit to be allocated to local businesspeople wishing to work with Iran by the Brazilian Development Bank. The measure was first announced in early September.
The joint commission is also tasked with prioritizing projects that will ultimately benefit from the allocation of funds.
On Monday, Collor de Mello also met with Iranian Foreign Minister Mohammed Javad Zarif as well as other top officials. They exchanged views on expanding bilateral ties and parliamentary cooperation.
“There is potential for expansion of trade between the Islamic Republic and Brazil, and there should be more focus on industrial and agricultural sectors,” Parliament Speaker Ali Larijani told Fernando Collor de Mello in a meeting in Tehran late on Saturday,
Collor said Brazil, as a member of the BRICS bloc of emerging economies that includes Russia, India, China and South Africa, stands by Iran and plans to enhance its ties with the country, particularly in the field of trade.
Iran’s Foreign Ministry congratulated Brazil's president-elect Jair Bolsonaro on winning last month's election in the South American country, hoping for closer political and economic ties between the two countries during his term.
“Iran and Brazil have a history of 118 years of bilateral ties, which have always followed a growing, firm and stable trend,” Foreign Ministry Spokesman Bahram Qasemi said in his congratulatory message.
