Brazil seeks Iranian investment for its development projects

October 27, 2015

TEHRAN- Brazil invites Iranian investors to make investment in implementation of its development projects, according to Brazilian Development, Industry and Foreign Trade Minister Armando Monteiro.

Monteiro made the statement in an Iran-Brazil trade conference yesterday in Tehran, according to the Islamic Republic of Iran Broadcasting (IRIB).

Heading a high-ranking economic delegation of Brazilian officials from the country’s chamber of commerce, central bank, foreign ministry’s economic authorities and 35 traders and economic activists from Brazil’s private sector, the minister arrived in Tehran on Monday to explore ways for the expansion of economic ties between Iran and Brazil.

The Brazilian official said his country is seeking cooperation from the other countries especially Iran for making investment in the implementation of its infrastructural development projects specially construction and development of ports and railway in addition to power plants.

He said Iran-Brazil trade stood at $1.4 billion in 2014 which is not at all a satisfying figure given the potentialities existing for cooperation between the two countries.

Considering many economic capabilities Iran and Brazil have in common, the two countries enjoy some proper opportunity to expand their cooperation in all economic areas, Monteiro highlighted.

He mentioned energy, industry, mining, science and technology, agriculture and animal husbandry sectors as well as offering services and building infrastructures as the areas in them Iran and Brazil can cooperate.

Iranian economy enjoys high potentials for growth in the international level, the Brazilian official said; adding: “We are ready to expand our trade ties with Iran.”

While expressing satisfaction over Iran’s nuclear deal with the world’s major powers, he noted: “Now, Iran has become an important destination for the international traders. We are very glad that we can start a new chapter in our relation with the country”.

Addressing the same conference, Iranian Industries, Mines and Trade Minister Mohammad Reza Ne’matzadeh called for launching direct flights between Iran and Brazil as a necessity for the expansion of economic ties between the two countries.

He mentioned Iran’s petrochemical industry a proper sector for investment making by the Brazilian companies.

The official further said Iran and Brazil can make joint venture in the agriculture sector.

He also called for Iran-Brazil more cooperation in production and exports of the food products.

He referred to the mining sector and electronics industries as the other fields for cooperation between the two countries.

Brazil is Iran’s major Latin American trade partner. Carpet, raisin and petrochemical products are the main goods Iran exports to Brazil. Meat, sugar and corn are the major products Iran imports form the country.

In a meeting with Brazilian President Dilma Rousseff in New York on September 25, Iranian President Hassan Rouhani said there are many potentialities for Iran-Brazil cooperation and emphasized the necessity of expanding all-out bilateral ties between the two countries.