News ID: 206687
Published: 0349 GMT December 22, 2017

Iran, Brazil discuss refinery project

Iran, Brazil discuss refinery project

Iran’s ambassador to Brazil and Brazil’s minister for mine and energy discussed bilateral cooperation including the refinery project that Iran is planning to construct in Brazil.

Ambassador Ali Saqqaeian and the Brazilian Minister Fernando Coelho Filho in a meeting on Thursday clarified some aspects regarding the refinery project in Maranhao, northeastern Brazil, Fars News Agency reported.

Saqqaeian described cooperation in the project as an opportunity for Iran and Brazil to deepen their bilateral economic relations.

The two sides also reviewed ways of cooperation between the two countries in energy and mines.

Other areas of cooperation, including Brazil’s participation in deep-sea oil extraction, manufacturing oil equipment, and mining projects were also negotiated at the meeting.

On December 10, the Iran-Brazil Chamber of Commerce hosted a visiting delegation from the Brazilian Trade and Investment Promotion Agency, also known as Apex-Brasil.

Kaveh Zargaran, the Iranian co-chair of the chamber, discussed a wide range of issues, including joint investments, ways of facilitating bilateral trade, banking measures to improve imports and exports, as well as holding exhibitions and marketing workshops.

The Brazilian delegation comprised representatives of businesses active in the fields of food and agro machinery and equipment production in Asia and the Middle East.

Apex-Brasil works to promote Brazilian products and services abroad and to attract foreign investment to strategic sectors of the Brazilian economy.

The agency’s efforts, according to its website, constitute trade and prospective missions, business rounds, support for the participation of Brazilian companies in international trade fairs, arrangement of technical visits of foreign buyers and other select activities designed to strengthen the country’s branding abroad.

The Iran-Brazil Chamber of Commerce, launched in July this year with the aim of developing business ties between the two countries, is the first and only joint chamber with a South American nation.

Iran’s trade with Brazil has been on the rise since March 2014-15 fiscal year, reaching $1.32 billion last year (ending March 20), the highest over the past decade, the Islamic Republic of Iran Customs Administration data show.

Last year, Iran exported $111.86 million worth of commodities to Brazil and imported goods valued at $1.2 billion in return.


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