Place: Ministry of External Relations, Brasilia.

During the meeting of high Excellency Iranian Minister of Foreign Affairs, Dr. Motaky, with the Brazilian Officials, the Committee on Financial and Banking relations between Brazil and Iran was held in Brasilia at the Ministry of External Relations. The focus of the meeting was on the development of mutual financial co-operation and on the discussion on how to overcome the main obstacles facing economic cooperation between Brazil and Iran.

The meeting was directed from Brazilian party by Counsellor Rodrigo de Azeredo Santos, Head of the Trade Promotion Programmes Division of the Ministry of External Relations, and, from Iranian party, by Dr Kourosh Parvizian, Managing Director of Export Development Bank of Iran.

Meanwhile, by presenting and exchanging of points of view of two parties the following topics were mutually agreed by the representatives of Brazilian and Iranian delegation:

1- To discuss the possibility of establishing financial mechanisms to facilitate export and import of goods and services by both countries, including re-exporting operations of Brazilian and Iranian goods and services to third countries.

2- To study investments in joint projects in both countries and the establishment of joint companies to expand the mutual economic co-operation. .

3- To sign a MOU between the Central Banks for exchanging information on regulatory issues of the financial systems of both countries.

4- To organise technical and banking committees to establish and facilitate banking cooperation between Brazil and Iran.

5- To determine a date for the banking delegations to visit both countries to finalise fundamental issues of banking co-operation.

6- To reach effective progress in the issues above mentioned before the Joint Economic Commission meeting.

Attended by: