Iranian Minister of Economic Affairs and Finance Ali Tayyebnia met with Brazilian Minister of Mines and Energy Fernando Coelho Filho in Tehran on Sunday to discuss ways of broadening economic ties. “Trade between the two countries is limited to agricultural products and livestock. We can expand our ties to construction and engineering services,” the Iranian minister was quoted as saying by ILNA during the meeting. Cooperation in oil and gas sectors was also among the topics discussed during the meeting. Trade between Iran and Brazil stood at $475.4 million in the last Iranian year (March 2015-16), which indicates a 4.5% decline compared with the preceding year. Iran’s imports stood at $451.8 million, showing a 33% rise. Exports amounted to $23.6 million, down 70%, according to the Islamic Republic of Iran Customs Administration.
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