Addressing a group of Brazilian businessmen and industrialists on Saturday, the Iranian envoy said the two countries can bring the value of their annual trade exchanges to $10bln.
He said the two sides have $3.2bln dollars is much lower than the two countries’ capacity.
Brazil remains Iran’s main trade partner and exporter in Latin America. Brazil’s top exports to Iran include food, medication, minerals and automobiles.
Brazil’s Petrobras firm has made substantial investments in the Iranian oil and gas sector in recent years.
Iran was Brazil's largest export market for beef in 2011.