1231 GMT September 25, 2020
In a meeting between Iran's Economy Minister Masoud Karbasian and his Brazilian counterpart Henrique Meirelles in Brasilia on Tuesday, the two sides discussed ways to expand banking ties between the two countries, Fars News Agency reported.
The Brazilian minister said, "We welcome the opening of branches of Iranian banks in Brazil."
He further noted that Iran-Brazil economic relations have been satisfactory and called for investments, particularly in the agriculture sector as well as medium and heavy industries.
"Brazil welcomes talks between certain major Brazilian companies and their Iranian partners, especially in power generation."
Meirelles also voiced interest in meeting the needs of Iranian aviation fleet once the obstacles are overcome.
The two sides agreed to hold a meeting of Iran-Brazil Joint Economic Commission in Iran in the next two to three months.
In relevant remarks in November 2016, former Iranian economy minister Ali Tayyebnia and Brazilian Minister of Industry and Commerce Marcos Pereira in a meeting in Brasilia underlined the need to broaden cooperation between the two countries in various sectors, especially in economic and trade areas.
During the meeting in the Brazilian capital, Tayyebnia said, "Tehran attaches importance to expanding commercial cooperation with South America mainly in the fields of agriculture and industries."
He pointed to Brazil's potentials in agriculture and livestock and noted, "Iran has various potentials in exports of gas, oil derivatives, petrochemicals and handicrafts which can help enhance economic cooperation between the two countries."
The Brazilian minister hoped to witness a growth in trade exchanges and that several memorandums of understanding would be inked in the near future on expanding economic cooperation between Iran and Brazil.