Head of Chamber of Commerce, Industry, Mines and Agriculture Mohsen Jalalpour said on Monday that Iran and Brazil have decided to strike balance to trade which currently tilts in favor of Brazil.
He made the remarks in meeting with visiting Brazilian Minister of Development, Industry and Foreign Trade Armando Monteiro Neto.
The official said that Iran exports goods to Brazil worth 100 million dollars, while Iranian imports from Brazil stood at 300 million dollars.
He called for joint venture cooperation of the two countries to produce medicine, food stuffs and joint investment in mutually interested fields to cover 400 million population markets in the region.
He told reporters that the issue of using Brazilian industry in manufacturing airplane is not a priority for Iran, but cooperation on small industries and foodstuffs are the priority for Iran.
Monteiro said that Iran and Brazil have common grounds for joint cooperation and they may help one another to work in the market of the region.
Iran-Brazil joint chamber of commerce was established in year 2003.
Brazil by 188 million population is the largest and most populous country in South America.
Brasilia is the capital city and the Brazilian people speak the Portuguese.