Iran, Brazil hash out development of economic ties

November 21, 2016 - 9:26

TEHRAN- The visiting Iranian Finance Minister Ali Tayyebnia and Brazilian Minister of Industry and Commerce Marcos Pereira and Minister of Mines and Energy Fernando Coelho Filho discussed reinvigorating mutual economic and trade relations in Brasilia.

As ISNA reported on Saturday, during his meeting with Tayyebnia, Filho referred to the endorsement of a pre-planned MOU during Iran’s finance minister’s presence in Brasilia, and said that “Iran-Brazil ties are experiencing an upward trend and Brazil is in need and fond of expanding its relation with Iran more than ever.” 
“The Islamic Republic possesses high potentials in different sectors such as oil, gas, and electricity,” he added.
The Brazilian energy minister expressed hope that Tehran-Brasilia common trade value will mount up to $5 billion per annum in near future from its current $2 billion. 
Introducing available investment opportunities in Iran, Tayyebnia for his part, discussed improvement of bilateral banking and brokerage relations with the Brazilian energy minister.
The Iranian minister left Tehran for Brazil on Tuesday to attend the 4th meeting of Iran-Brazil Joint Economic Committee.

HJ/MA

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