Iran and Brazil trade is consistent - Import Federation

Business Materials 15 November 2021 16:10 (UTC +04:00)

TEHRAN, Iran, Nov.15


Iran and Brazil relations are continuing and consistent while trade is done indirectly via the third country, the head of Iran Import Federation told Trend in an interview.

The trade between two countries is done via third countries such as the UAE, Oman, and Turkey, Farhad Agahi noted.

Iran Chamber of Commerce is opening an office in Brazil in the coming week as part of ongoing relations, he indicated.

Iran's indirect export to Brazil during the first half of the current Iranian year (started March 21, 2021) was $500 million. The country has imported $7 million worth of goods that included red meat, chicken, corn, soy, and press cake from Brazil, he explained.

Iran mostly imported essential goods from Brazil however the trade was indirect via intermediary countries. Meanwhile, Iran imported medicine including influenza vaccine through the Instrument in Support of Trade Exchanges (INSTEX) which was not significant.

Iran and Brazil in 2023 will celebrate the 120th year of their bilateral relations. The two countries have complementary economies and intertwined trade interests.