Azerbaijan, Baku, Aug.4 / Trend R.Zamanov /
Iran and Brazil have the capacity to boost their bilateral ties to 10 billion dollars per year, the Iranian Ambassador to Brazil Mohammad Ali Ghanizadeh said.
He made the remarks during a meeting focused on Iran and Brazil investment opportunities at Brazilian city of Luisana, the IRNA News Agency reported.
According to Ghanizadeh, the two countries' bilateral trade volume currently stands at 3.2 billion dollars.
"The current volume of bilateral trades is way lower than the two countries' potentials," he said.
Brazil remains Iran's main trading partner and exporter in Latin America. The countr's top exports to Iran include food, medication, and minerals.