Tehran, Iran, July 12
Trend:
Iran and Brazil are seeking to barter goods, and there is a serious discussion between officials of two countries on the matter, said the secretary general of Iran-Brazil Chamber of Commerce, Trend reports citing ILNA.
"While Iran's major import from Brazil is livestock, the barter of goods is more profitable for Brazil since Iran exports include oil and petrochemical products that have more strategic advantage," said Farhad Taherian.
In his words, Iran's exports include 10 items, and the volume of imports from Brazil is less significant comparing to volume of exports from Iran, so it caused negative trade balance," he added.
"The major exports goods from Iran are petrochemical products including urea, bitumen, and petroleum. The amount of exports increased in first month of current Iranian year [started March 21, 2019] to $32 million," he noted.
"Iran imported 12 items from Brazil; around 48 percent accounted for corn and 24 percent for soy. The import items also included soy oil, press cake, tobacco and ethanol. Thus, Iran mostly imported agriculture goods, while there are problems in money transfer, therefore public and private sectors seek barter," he said.
"Latin America has good potential for trade, and Iran-Brazil Chamber of Commerce takes steps to introduce Iran's import needs to Brazilian businessmen. Unfortunately, in the past, our major exports were glass and marble stone, which did not have high value, so we should export goods with high value to increase the trade balance," he added.