Iran looking for preferential tariffs in trade with Brazil

Business 24 January 2022 11:56 (UTC +04:00)
Iran looking for preferential tariffs in trade with Brazil

TEHRAN, Iran, Jan. 24


Iran is seeking preferential tariffs to increase export to Brazil, the head of Iran –Brazil Joint Chamber of Commerce told Trend in an interview.

Brazil is one of the biggest producers of essential goods such as corn, soy, and meat, the country's annual direct and indirect export to Iran is more than $6 billion, Fakhrodin Amerian noted.

Iran and Brazil trade in 2021 was $1.5 billion based on statistics from the Brazil customs office website.

However, some Brazilian goods are re-exported to Iran from the UAE and Turkey, he indicated.

Iran's annual import from Brazil is about $5 to $6 billion including meat, corn, soy, and vegetable oil. The country's export to Brazil is $100 million mostly petrochemical products, handmade carpets, and food items such as pistachio, raisin, and dates, he explained.

Iran's effort is to create preferential tariffs with Brazil to set lower customs fees on Iranian goods to increase exports to Brazil to $1billion in one year.