Iran to boost agrifood and urea exports to Brazil to reduce trade imbalance
The negotiations on updated trade protocols will commence shortly to enable greater agrifood exports
Iran is preparing to significantly increase its agrifood and urea exports to Brazil in a bid to narrow its trade deficit with the South American country, according to statements made by Iran’s Minister of Agriculture, Gholamreza Nouri. This is reported by Press TV, a partner of TV BRICS.
During high-level discussions with his Brazilian counterpart, Nouri received assurances that Brazil will facilitate Iran’s exports of key agricultural products such as pomegranates, apples, kiwis, dried fruits, and caviar. He confirmed that negotiations on updated trade protocols will commence shortly to enable greater agrifood exports from Iran.
Official figures indicate that total bilateral trade stands at approximately US$8 billion per year, with Iranian exports accounting for less than US$2 billion.
To address this imbalance, Iran also intends to reduce its imports of Brazilian meat over the coming years. Instead, it plans to develop a re-export model for halal-certified Brazilian meat to third countries, supporting its broader trade diversification goals.
In a further move to strengthen economic ties, Iran established its first trade attache post in South America last year, located in Brazil. Two Iranian banks are also in the process of seeking operational licences to open offices in the country to support export expansion.
Photo: iStock
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