Brazil allocates 1.46 bln USD for investments in Iran's projects

TEHRAN, April 29 (Xinhua) -- Brazilian Ambassador to Tehran Rodrigo de Azeredo Santos said that his country has allocated 1.2 billion euro (1.46 billion U.S. dollars) to invest in Iran's projects, Tehran Times daily reported on Sunday.

Santos made the remarks during a meeting with the members of the Chamber of Commerce of Abadan (a city in southwest of Iran) on Saturday.

"Agreement on the banking ties and currency issues is required for promotion of bilateral trade," he asserted.

Earlier, Brazilian Deputy Minister of Agriculture, Livestock and Food Supply Eumar Roberto Novacki, said that banking problems are the main barrier on the way of expanding trade between the two countries.

"If we can resolve banking problem, it will definitely have many benefits for both sides," Novacki told Tehran Times.

"We see Iranian market a potential market for our more presence and I believe that we can boost our relations," he said, adding that presence of Brazilian delegations in Iran indicates determination for improving ties.

The governor of the Central Bank of Iran (CBI) Valiollah Seif said that U.S. stances against Iran have deprived Iran of the economic benefits of the international nuclear deal, Tasnim news agency reported on Sunday. Enditem