Envoy: Brazil to invest €1.2b in Iran

Brazilian Ambassador to Iran Rodrigo de Azeredo Santos said here on Saturday that Brazil has allocated 1.2 billion euro to implement investment plans in Iran, AVA Diplomatic reports.

The Brazilian envoy made the remarks in a meeting with members of Abadan Chamber of Commerce.

Santos added that in order to promote trade exchanges the two sides need bilateral banking and forex understanding.

Currently trade relations is handled by two Brazilian banks with Iranian banking network, but Brazil supports establishment of an Iranian bank branch in Brazil.

He said that to expand relations, private sector of Iran should use its capacities in bilateral interactions.

The Envoy said Brazil imports around 100 million dollars of goods from Iran and exports 2.6 billion dollars to Iran.

He said that Brazil needs to purchase petrochemicals, chemicals, oil products and fertilizers and Iran may supply a big part of this demand.

Brazil is ready to develop economic, athletics and tourism ties with Iran and for issuing visa for Iranian investors and tourists there is no problem, Santos said.

Head of Abadan Chamber of Commerce Masoud Khayyat –zadeh said Brazil had always good relations with Iran before and after implementation of JCPOA.

He said Abadan Chamber of Commerce, as a private sector, is ready for mutual cooperation with Brazilian private sector.

Rodrigo de Azeredo Santos arrived in Abadan on Friday April 27 and visited Arvand Free Trade Zone as well as watching soccer game between two provincial teams.

He had meetings with Abadan sports veterans, members of chamber of commerce and a number of local officials on Saturday.