Economy, Domestic Economy

Brazilian Trade Mission to Visit

Brazilian Trade Mission to VisitBrazilian Trade Mission to Visit

A senior Brazilian official will lead a trade delegation to Iran during June 10-13.

The mission, led by director for trade promotion and investment of the Foreign Ministry, Rodrigo de Azeredo Santos, is part of the Brazilian effort to renew contacts with Iranian private and public sectors, and to develop economic and trade relations between the two countries, as announced by minister Jose Serra.

During the visit, new opportunities for Brazilian exporters in Iran and for Iranian investments in Brazil will be discussed based on the commitment of the two countries to deepen bilateral partnership.

The two governments will also seek to advance the memorandum of understanding on financing and guarantees to Brazilian exports to Iran.

In 2015, trade between Brazil and Iran totaled $1.6 billion, a 29.5% drop compared to 2011 when bilateral exchanges amounted to $2.3 billion. The governments of Brazil and Iran seek to increase annual bilateral trade to $5 billion.

Brazilian exports continue to be concentrated mostly on food, such as meat, corn and sugar, but there is great potential in sectors such as transportation equipment, mechanical and electrical machinery equipment, equipment for oil and gas industries, and agricultural implements, Brazil’s Foreign Ministry website reported.