Mehr News Agency reported that Iran and Brazil are planning to establish joint cooperatives in a bid to give a boost to their bilateral trade.

In a meeting between Mr Antonio Luis Espinola Salgado Brazil's Ambassador to Tehran and Mr Mohammad Abbasi Iranian cooperatives minister in Tehran, the 2 sides discussed ways to expand cooperation between both sides’ cooperatives sectors as non governmental economic entities.

The Brazilian official while welcoming the idea for setting up joint cooperatives said that 2 industrial delegations will soon travel to Iran. He added his country is studying the opening of a credit line for Iran in order to streamline the 2 way trade.

(Sourced from Mehr News Agency)