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News number: 8901211550

19:05 | 2010-04-10

Economy

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Brazil Seeking to Boost Trade Ties with Iran

TEHRAN (FNA)- Brazilian Minister of Development, Industry and Trading Miguel Joao Jorge Filho is scheduled to pay a visit to Iran on April 12 to explore ways of expanding economic and trade ties and cooperation between the two countries.



According to a statement issued by the Iranian Ministry of Industries and Mines on Saturday, the Brazilian minister will lead an economic and industrial delegation in his visit to Tehran.

During his two-day visit, the two countries' joint trade workgroup as well as the Iran-Brazil joint economic commission will hold meetings to discuss ways to promote mutual industrial and trade cooperation.

The statement added that the Brazilian minister is also slated to meet with President Mahmoud Ahmadinejad, Iranian ministers of Industries and Mines, Housing and Urban Development, and Commerce during his stay in Tehran.

The International Monetary Fund (IMF) announced in a report in December 2009 that Brazil is the largest trade partner of Iran among the Latin American countries.

Also the new data showed that Iran's trade with Latin America tripled to $2.9bln in 2008.

The report gave Brazil as the largest trade partner of Iran in Latin America with a turn-over of about $1.3bln in 2008.

Since taking office in 2005, Iranian President Mahmoud Ahmadinejad has expanded Iran's cooperation with many Latin American states, including Venezuela, Cuba and Brazil.

President Ahmadinejad went on a five-day visit to five African and South American countries in late 2009, which also took him to Brazil.