Based on the negotiations made with the two banks in Brazil, the necessary guarantee letters are issued between traders of the two countries for money transfer, Fakhreddin Amerian said.
Speaking at the 3rd Iran-Brazil Trade Opportunities Conference on Sunday, he put the current volume of products exported from Brazil to Iran at more than $8 billion while Iran’s export of products to Brazil is negligible.
Iran’s export of petrochemicals to Brazil does not exceed $200 million, he said, adding, “We are trying to improve the situation of bilateral trade balance in the coming years.”
Elsewhere in his remarks, Amerian pointed to the launch of the Iran Trade Center in Brazil and said, “Based on the talks with two banks in Brazil, the necessary guarantees are issued for the transfer of money between merchants of the two countries.”
Noting that the import of petrochemicals is necessary for Brazil, he said the South American country is the largest buyer of fertilizer in the world and Iran can export more of this product to Brazil.