Brazil has urged the US to quickly start negotiations to settle a trade dispute between the two countries over US cotton subsidies.

President Luiz Inacio Lula da Silva on Wednesday called on US President Barack Obama to swiftly start talks on the row. He said Brazil expected Washington to respect the decisions of the World Trade Organization (WTO).

“Brazil has no interest in a confrontation of any kind with the United States, but it is interested in the United States respecting the decisions of the World Trade Organization (WTO),” Lula said.

“We are not pursuing a policy of retaliation,” He added. “We want to be respected and that the WTO be respected.”

Brazil on Monday said it would raise tariffs on a number of US goods worth USD 591 million to counter Washington’s move to unlawfully pay subsidies to US cotton producers.

The World Trade Organization has authorized the South American country to impose levies as high as 100 percent on US imported goods over illegal US cotton aid.

American goods will be subject to import tariffs within 30 days unless the United States agrees to put an end to the subsidies.

Brazil says it may apply another USD 238 million penalty in sectors like intellectual property and service sectors.

In late 2002, Brazil initiated a World Trade Organization (WTO) dispute settlement case against specific provisions of the US cotton program.

In September 2004, a WTO dispute settlement panel ruled against the United States on several key issues. The ruling included key findings among which was that US domestic support measures that are “contingent on market prices” have resulted in excess cotton production and exports that, in turn, caused low international prices and resulted in “serious prejudice” to Brazil.

Ecuador’s vice president, who is in Tehran for talks on bilateral issues, has been officially welcomes by his Iranian counterpart.

Lenin Moreno arrived in the Iranian capital Friday night and is scheduled to meet with top Iranian officials.

In the official welcoming ceremony on Saturday, the national anthems of the two countries were played and Moreno and Mohammad-Reza Rahimi reviewed a guard of honor.

Talks on the construction of hydro-electrical plants as well as cooperation in the energy and oil sectors will be high on the agenda.

After his two-day visit to Iran, Moreno will fly to the UAE and Turkey as part of his tour of the region.

Iran enjoys growing relations with Latin American countries including Venezuela, Ecuador, Brazil and Bolivia.

Brazil has told the US and France that it will not agree with tougher sanctions against Iran as it seeks more trade with the Islamic Republic, the Brazilian envoy to the UN says.

“We are not considering sanctions a good idea now,” Ambassador Maria Viotti told Bloomberg on Wednesday.

“Negotiations should continue. If sanctions are pursued, this might block the negotiating track,” she said.

Viotti stressed that a negotiated settlement of the dispute over Iran’s nuclear program is still possible.

Brazil, which began a two-year term on the 15-nation Security Council in January, is expected to join China, Lebanon and Turkey in opposing a sanctions vote.

Brazil has warned against imposing a new round of UN sanctions on Iran, saying that the dispute over Iran’s nuclear program should be resolved through peaceful means.

“We don’t want Iran to have nuclear arms, let there be no doubt about that. They, like other countries, have the right to a peaceful (nuclear power) program,” Brazilian Foreign Minister Celso Amorim told reporters in Brasilia on Tuesday.

“We want to reach certainty (on Iran’s program) through dialogue and peaceful means,” Reuters quoted Amorim as saying.

The Brazilian foreign minister also said that sanctions tend to mostly cause suffering for the residents of the nations targeted rather than their governments.

“In the case of Iraq, I saw much suffering of the Iraqi people. Infant mortality went up enormously, and I saw that (sanctions) had no real impact on Saddam Hussein,” he stated.

Meanwhile, on Tuesday US President Barack Obama said that a new push for international sanctions against Tehran was moving along fairly quickly and should be completed in the next few weeks.

However, Tehran has repeatedly declared that it will not relinquish the Iranian nation’s legitimate nuclear rights under Western pressure.

Iran’s Foreign Minister Manouchehr Mottaki and Uruguay’s Minister of Industry Raul Sendic have discussed issues of mutual interests in Tehran.

The two discussed prospects of boosting industrial ties that would include manufacture of light and heavy machinery and construction of power plants.

Mottaki said that Iran is ready to provide the South American country with light and heavy machinery, as well as engineering services for construction of dams and power plants. Furthermore, he said Sendic’s visit could be a turning point in relations between the two countries.

The Uruguayan official, for his part, described Iran’s achievements in various fields as significant, saying the country’s development shows sanctions and international pressure against Iran have proven to be of no avail.

Sendic added that Iran and Uruguay have agreed “to set up special working groups aimed at identify new fields for cooperation.”

Upon taking office for the first time in 2005, Iranian President Mahmoud Ahmadinejad made efforts establish closer ties with Latin and South American countries including Venezuela, Cuba, Brazil, Bolivia and Uruguay.

The Zionist army chief, “Gabi Ashkenazi,” was forced on Monday to defer his trip to Brazil to attend the Conference of “the Generals of the armies of NATO” for fear of arrest.

The Zionist newspaper, Yediot Aharonot, explained that the main reason behind the postponement is a security study focused on fear of arrest in European capitals.

Adding that the Chief of Staff was scheduled to leave on Monday, but shortly before the travel he decided to cancel the trip. Ashkenazi demanded another plane to take him directly to Brazil without passing through European capitals.

On the other hand, Zionist officials and specialists stressed that “the first reason behind the postponement is the security of the Chief of Staff, and the second reason came after consultations resulted in fear of an arrest warrant or a lawsuit against the chief of staff.”

He added that it is decided to wait for another contract with another airline take him directly to the State of Brazil.”

Iran and Russia should use their national currencies in settling accounts for bilateral projects, an Iranian oil official suggests during talks.

“We want our national currencies to be used in our projects,” Iran’s Deputy Oil Minister Hossein Noghrehkar Shirazi told reporters on Wednesday in Moscow, adding that this measure would speed up the implementation of large bilateral projects.

The Iranian official also proposed the set-up of a bank for the purpose as part of a long-term energy cooperation plan.

The statement of the Iranian official visiting Moscow offers support for Russia’s drive for a more extensive use of national currencies and less of the US dollar.

Shirazi was attending a meeting of the Russian-Iranian working group on cooperation in the oil, gas and petrochemical spheres in Moscow. The group intends to map out a plan for energy cooperation over the next 30 years.

Shirazi also said that Iran planned to double gas output in the next five years to 1 billion cubic meters a day, increase oil production by 1 million barrels per day to 5 million bbl/d, and build new oil refineries and petrochemical plants.

In November, Russia’s central bank said Brazil is interested in settling bilateral trade accounts in rubles and Iranian rials.

Alexander Potemkin, an adviser to the Russian central bank chairman, has said that settlements in yuans and rubles already account for around 2 percent of Russia’s trade with China.

Earlier in November, the head of Iran’s Bank Melli (BMI) said Iran’s Central Bank and BMI have entered into negotiations with several/some countries and international banks regarding the use of the Iranian rial, the official currency of Iran, in international transactions and operations.

“Some countries have agreed to use the Iranian rial for payment in some transactions,” said Mahmoud Reza Khavari, President and CEO of Bank Melli Iran, who also heads the coordination council of the CEOs of Iranian banks.

The moves by the two countries come as they try to reduce dependence and find an alternative to the US dollar. The credibility of the greenback has been eroded by the global economic crisis.

Iranian Foreign Ministry Spokesman has reacted to recent remarks by the US Secretary of State regarding Tehran’s ties with Latin American countries.

Hillary Clinton on Friday alluded to Iran’s business partners in Latin America, including Brazil, Venezuela and Bolivia, warning them of consequences of bolstering ties with Iran.

“We can only say that is a really bad idea for the countries involved,” said the former first lady. “If people want to flirt with Iran, they should take a look at what the consequences might well be for them. And we hope that they will think twice,” she said during a question-and-answer session at the State Department.

In his weekly press conference on Tuesday, Mehman-Parast said the comments infringed accepted diplomatic norms regarding the relations between the countries.

“I think it’s evident enough that such comments are in contravention of diplomatic norms,” he said, adding that the best evidence was the reaction of those countries in the ALBA conference, which “unanimously rejected and condemned such comments.”

In response to Clinton’s remarks, the Bolivarian Alternative for the Americas, a regional trade group known as ALBA, promised closer ties with Iran.

The leaders of ALBA, an alliance for regional integration between the countries of Latin America and Caribbean, pledged to further develop ties with Iran and denounced the US stance toward the Islamic Republic.

Venezuelan President Hugo Chavez said the oft-states remarks were “ridiculous.”

“It’s ridiculous, the threat of the secretary of state, and we aren’t afraid of her,” Chavez said.

Bolivian President Evo Morales also said that his country would not back down from holding closer relations with Iran.

This is not the first time that the US has expressed dismay over Iran’s soaring popularity in Latin America, which it regards as its “strategic backyard.”

Earlier in May, Clinton said that the US was “disturbed” by Iran’s “gains” in the Latin America region.

Other than Venezuela and Bolivia, the Islamic Republic of Iran enjoys growing relations with other Latin American countries namely Brazil and Ecuador.

In his very recent visit to Latin America in November, Iranian President Mahmoud Ahmadinejad traveled to Brazil, Bolivia and Venezuela, where he signed several cooperation agreements and memoranda of understanding with South American leaders on joint ventures.

Nuclear issue

On supply of fuel for Tehran’s reactor, the spokesman said Iran has already given its views on the issue, reiterating that the swap would be possible if Iran’s “conditions are taken into consideration.”

Iran has offered to exchange an amount of 1,200 kilograms of its enriched uranium – in three batches of 400 kilograms – for the equivalent of higher-enriched uranium on the Persian Gulf island of Kish.

While the West is yet to give an official response to the proposal, a US official, who requested anonymity, rejected the proposal, saying, “Iran’s proposal does not appear to be consistent with the fair and balanced draft agreement proposed by the International Atomic Energy Agency [IAEA].”

In his press briefing, Mehman-Parast also appreciated Turkey’s support for Iran’s nuclear rights, which he said could set an example for other countries that hold friendly ties with Iran.

“The more our friends try to make the other side understand our rights, this is positive and we hope it would be effective.”

Turkey has on several occasions defended Iran’s nuclear program, dismissing sanctions as a proper solution to the issue.

As Iran increases its presence in US backyard, the US secretary of states warns Latin American nations about the consequences of the move.

Iranian President Mahmoud Ahmadinejad went on several official trips to Latin American countries, including Brazil, Bolivia and Venezuela in November.

During his visits, Ahmadinejad signed a number of agreements with Latin American leader to launch joint projects and thus increase Iran’s presence in the region.

Pointing to the recent upsurge in relations, Hillary Clinton said on Friday that “we can only say that is a really bad idea for the countries involved,” warning Bolivia and Venezuela in particular.

Clinton went on to accuse Iran of being “the major supporter, promoter and exporter of terrorism in the world.”

While Iran has always stated its opposition to extremism, Washington is accused of funding and supporting terrorist groups such as the Taliban in Afghanistan.

“In the 1980s, the administration former US president Ronald Reagan delivered several hundred shoulder-fired Stingers to Afghan resistance groups, including the Taliban,” The New York Times reported.

Pakistan’s President Asif Ali Zardari also confirmed in a May 7 interview with the NBC that “the ISI and CIA created them (the Taliban) together.”

The US secretary of state, however, went on to warn that “if people want to flirt with Iran, they should take a look at what the consequences might well be for them. And we hope that they will think twice.”

Iranian President Mahmoud Ahmadinejad has congratulated Bolivian President Evo Morales for his landslide reelection victory as the two countries enjoy amicable relations.

“I believe that your victory will strengthen friendly bonds between justice-seeking nations and promote equality, independence, freedom and kindness,” said President Ahmadinejad in a message to his Bolivian counterpart on Tuesday.

“It will also remind arrogant systems about the fact that wise nations follow justice-based spirituality and that the future belongs to nations like ours,” he added.

The Iranian president expressed hope that his Bolivian counterpart would take steps towards his country’s progress and improvement of cordial relations between Tehran and La Paz.

Iran’s relations with Bolivia have greatly improved during Mahmoud Ahmadinejad’s government. Ahmadinejad and his Bolivian counterpart Evo Morales have exchanged state visits.

Iran pledged in August, 2007 to invest 1.1 billion euros in Bolivian agriculture, industry, energy and humanitarian affairs. Iran has sold Bolivia tractors made in Venezuela, built dairy factories and offered to help finance a cement plant.

The growing ties between Iran and Latin American countries, including, Brazil, Venezuela, Cuba, Nicaragua and Bolivia, have raised concerns in Washington, which has been trying to isolate Tehran over its nuclear activities.

Brazil and Venezuela have condemned the result of the Honduran presidential election after a military coup ousted President Manuel Zelaya.

Brazilian President Luiz Inacio Lula da Silva said on Sunday that failure to oppose the move could encourage other adventurers to stage coups in Latin America.

“If the countries that can … make gestures do not do so, we do not know where else there could be a coup,” Lula said.

Foreign Minister Celso Amorim said earlier on Thursday that Brazil would not recognize the disputed election as that would be paramount to legitimizing the coup.

Meanwhile, Venezuelan President Hugo Chavez, a close ally of Zelaya, called the vote an ‘electoral farce’.

Zelaya has been residing at the Brazilian Embassy in Tegucigalpa since his return to the country from exile in September.

The ousted leader told his supporters to boycott the election and said the winner would not be a true president.

“He is going to be a very weak leader without recognition from the people and most countries,” Zelaya told Reuters.

During the election on Sunday, police fired tear gas and used water cannons on Zelaya’s supporters, wounding some and arresting many others. Angry protesters rejected the election result, claiming that about 75 percent of the electorate failed to participate in the vote.

Honduras’ conservative opposition National Party said on Sunday that its candidate Porfirio Lobo won the election. At the same time, Lobo’s main rival Elvin Santos of the ruling Liberal Party admitted defeat.

The Iranian President, Mahmoud Ahmadinejad, says his Brazilian counterpart Luiz Inacio Lula da Silva has plans to visit Iran in future.

President Ahmadinejad made the remarks after returning home from a five-day tour which took him to five African and South American countries including Brazil.

Describing the whole tour as successful, the Iranian President added that “We had great talks with Brazilian officials. Brazilian President Luiz Inacio Lula da Silva is scheduled to visit Iran.”

“The development of ties between Iran and Brazil will influence our relations with Latin America,” he explained.

The Iranian chief executive began his tour of Gambia, Brazil, Bolivia, Venezuela and Senegal on Sunday, just days after Israeli president Shimon Peres completed a tour to Latin America aimed at rallying support against Tehran.

However, the Israeli president’s visit to Brazil and Argentina, home to the largest Jewish communities, led to angry demonstrations against the trip in both Latin American countries.

Iran’s close ties with Latin America and particularly Brazil are a cause of major concern both to Israel and its staunch ally, the US.

Ahmadinejad’s visit to Latin American and African countries comes also as Washington moves to prepare a new slate of sanctions against Iran over the country’s nuclear issue.

Brazilian President Luiz Inacio Lula da Silva has thrown his weight behind Iran’s efforts to develop a nuclear program aimed at peaceful purposes in September’s UN gathering in New York.

During his stay in Brazil, Peres also met with the Brazilian Defense Minister Nelson Jobim who is considered to be one of the strongest men in the Brazilian government.

However, the Israeli leader’s efforts to overshadow Ahmadinejad’s upcoming visit seemed to be in vain as Jobim later asserted that Brazilian authorities would hold talks with whomever they pleased.

Jobim said that no one had the right to dictate to Brazil who to talk to or not, pointing out that the decision was entirely up to the Brazilian government.

Ahmadinejad was greeted by First Vice President Mohammad Reza Rahimi, foreign policy adviser to Iran’s Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, Ali-Akbar Velayati, and several ministers and members of Parliament upon his arrival in Tehran on Friday morning.

Iranian President Mahmoud Ahmadinejad has arrived in Caracas on the fourth leg of his official visit to Latin American and African countries.

Ahmadinejad will attend an official welcome ceremony with his Venezuelan counterpart Hugo Chavez on Wednesday.

The Iranian and Venezuelan presidents, two outspoken critics of Washington and Tel Aviv policies, will hold talks aimed at enhancing bilateral cooperation.

Venezuelan Foreign Minister Nicolas Maduro welcomed Ahmadinejad at Simon Bolivar airport in Caracas.

“We have a solid foundation, a solid base that we have created over this decade in our relationship, and it shows how false are the attacks of the world empire,” Maduro said Monday.

Before arriving in the Venezuelan capital, the Iranian president paid visits to Gambia, Brazil and Bolivia.

Iran and Venezuela maintain friendly ties in various areas including economic, trading, energy and industrial fields.

Other than Venezuela, the Islamic Republic of Iran enjoys growing relations with other Latin American countries namely Brazil, Bolivia and Ecuador.

Ahmadinejad’s visit to Latin American and African countries comes as Washington moves to prepare a new slate of sanctions against Iran over the country’s nuclear issue.

Negotiations on Iran’s nuclear program led to a major breakthrough when the UN nuclear watchdog proposed that Iran should send most of its domestically produced low-enriched uranium (LEU) abroad in exchange for metal fuel rods for its Tehran medical research reactor.

Iran has officially announced that it will accept the basics of the proposal but has sought certain modifications to the offer, saying the country’s enriched uranium supply will not be sent out of its borders due to the lack of confidence in the West.

The Islamic Republic says a guaranteed supply of fuel for the Tehran research reactor is the country’s major concern.

Iran says as both sides of the deal have their stockpiles ready, there is no problem with the simultaneous exchange of Tehran’s LEU with the 20 percent-enriched uranium inside the Iranian territory.

Iran’s president Mahmoud Ahmadinejad arrives in Brazil for a day-long visit aimed at boosting ties with Latin America’s largest economy.

Ahmadinejad was earlier in the Gambian capital, Banjul, where he received a warm welcome from Gambians. His stay in Gambia ended with promises of new economic cooperation between Tehran and Banjul.

Ahmadinejad will meet with his Brazilian counterpart Luiz Inacio Lula da Silva to discuss bilateral economic and political ties. The Iranian president is accompanied by a delegation of representatives from Iran’s private sector.

The visit comes days after Israeli President Shimon Peres wrapped up his regional tour which included the fifth largest country in the world to garner support against the Islamic Republic.

Peres’s week-long visit to Brazil and Argentina, the first trip to the countries after 40 and 20 years respectively, comes amid Iran’s amicable relationship with Latin American countries.

Brazilian President Luiz Inacio Lula da Silva has thrown his weight behind Iran’s efforts to develop a nuclear program aimed at peaceful purposes in September’s UN gathering in New York.

Iran’s close ties with Latin America and particularly Brazil has been a cause of major concern both for Israel and its staunch ally, the US.

A day after Iran’s ambassador to Brazil announced that Ahmadinejad and a large entourage of 110 representatives from 65 companies were to visit Brasilia early May 2009, US Secretary of State dubbed the development as “quite disturbing.”

Blaming US President Barack Obama’s predecessor for “Iran gains” in the region, the top US diplomat noted “I don’t think in today’s world, where it’s a multi-polar world, where we are competing for attention and relationships with the Russians, the Chinese, the Iranians, that it’s in our interest to turn our backs on our own hemisphere.”

The Israeli president’s visit to the two Latin American countries, home to the largest Jewish community in the region, also led to angry demonstrations against the trip.

Demonstrators denounced Tel Aviv’s deadly offensive against Palestinians in the Gaza Strip which killed more than 1400 people, a large number of them women and children.

In Argentina, protestors carried placards which read “Get out of Argentina, murderer Shimon Peres”, “Death to Zionist-fascist Israel, officer of American imperialism in the Middle East, murderers of the Palestinian people!”.

In Sao Paulo, Brazil, the Israeli President had been hailed as “Shimon Hitler”, during protests. Demonstrators carried placards showing Peres, sporting a short Hitlerian mustache standing next to an Israeli flag upon which a swastika had been drawn.

Iran’s President is scheduled to begin his tour to five countries in Africa and South America on Sunday days after the Israeli president ended a tour aimed at rallying support against Tehran.

“Iranian President (Mahmoud Ahmadinejad) will visit Brazil, Bolivia, Venezuela, Senegal and Gambia,” IRINN reported on Sunday.

“Ahmadinejad is slated to visit Gambia in the first leg of his five-day trip,” it added.

He will then visit Brazil on the second day. Bolivia, Venezuela and Senegal will be the next targets.

Ahmadinejad’s tour is aimed at boosting political and economic ties with the five African and South American countries.

Israeli President Shimon Peres’s week-long visit to Brazil and Argentina, the first trip to the countries after 40 and 20 years respectively, comes amid Iran’s amicable relationship with Latin American countries.

Brazilian President Luiz Inacio Lula da Silva has thrown his weight behind Iran’s efforts to develop a nuclear program aimed at peaceful purposes in September’s UN gathering in New York.

Iran’s close ties with Latin America and particularly Brazil, the fifth largest country, has been a cause of major concern both for Israel and its staunch ally, the US.

A day after Iran’s ambassador to Brazil announced that Ahmadinejad and a large entourage of 110 representatives from 65 companies were to visit Brasilia early May 2009, US Secretary of State dubbed the development as “quite disturbing.”

Blaming US President Barack Obama’s predecessor for “Iran gains” in the region, the top US diplomat noted “I don’t think in today’s world, where it’s a multi-polar world, where we are competing for attention and relationships with the Russians, the Chinese, the Iranians, that it’s in our interest to turn our backs on our own hemisphere.”

The Israeli president’s visit to the two Latin American countries, home to the largest Jewish community in the region, also led to angry demonstrations against the trip.

Demonstrators denounced Tel Aviv’s deadly offensive against Palestinians in the Gaza Strip which killed more than 1400 people, a large number of them women and children.

In Argentina, protestors carried placards which read “Get out of Argentina, murderer Shimon Peres”, “Death to Zionist-fascist Israel, officer of American imperialism in the Middle East, murderers of the Palestinian people!”.

In Sao Paulo, Brazil, the Israeli President had been hailed as “Shimon Hitler”, during protests. Demonstrators carried placards showing Peres, sporting a short Hitlerian mustache standing next to an Israeli flag upon which a swastika had been drawn.

Brazil, which has stepped up its peacemaking role in the Middle East, is hosting Palestinian Authority’s Acting chief Mahmoud Abbas.

President Luiz Inacio Lula da Silva on Thursday welcomed Mahmoud Abbas, who is on a two-day visit to Brazil, in the historic city of Salvador.

Brazilian Foreign Minister Celso Amorim anticipated that Lula might try to convince Abbas to stay at the helm of the PNA (Palestinian National Authority), despite his announcement that he will not compete in the upcoming January presidential election.

Brazil last week hosted Israel’s President Shimon Peres, who was on a four-day visit to the country, as hundreds of demonstrators labeling him “Shimon Hitler”, voiced strong disapproval of his visit to Sao Paulo.

Mahmoud Abbas launched a South American tour on Thursday beginning with Brazil, that will also to take him to Argentina and Chile. He also paid a short visit to Morocco on his way to Brazil.

Dozens of demonstrators voice strong disapproval of the Israeli President’s visit to Brazil and of Tel Aviv’s crimes against humanity during weeks-long military aggression on the Gaza Strip.

“War criminal, go home” the protesters shouted at Peres as he arrived in Sao Paulo, where he was due to speak at a conference of local industrialists. The protesters waved Lebanese as well as Palestinian flags and carried banners condemning Israel.

Some placards showed Peres beside the Israeli flag with a swastika drawn on it and the president drawn with a mustache similar to that of Adolf Hitler and captioned: “Shimon Hitler”. Other signs showed pictures of Palestinian children killed during ‘Operation Cast Lead’.

More than 1,500 people were killed during three weeks of Israeli land, sea and air assaults in the impoverished Palestinian coastal sliver. The offensive also inflicted $ 1.6 billion damage to the Gazan economy.

“We are here to protest against the Brazilian government’s hosting of the president of the state that occupies and murders children. We will come to every event where there is an Israeli representative and we will tell everyone that Israel is a state that ruthlessly kills innocent children. This is only the beginning,” one of the protesters said.

There are reports that Peres’ security would be reinforced during his visit to Argentina amid concerns of protests. Thousands of anti-Israel demonstrators are expected to demonstrate around the world’s eighth largest country, including sites where Peres is scheduled to appear.

It now seems that fears of anti-Israel protests during Peres’ visit to South America are being realized sooner than expected.

Iranian President Mahmoud Ahmadinejad is going to visit a number of American countries soon.

Ahmadinejad will visit 5 or 6 countries including Brazil, Bolivia, and Venezuela.

The aim of the visits is said to be an expansion of political and economic ties with the American states.

Deputy Minister of Economy and Financial Affairs Behrouz Alishiri said Venezuela could be an entrance gate for the Islamic Republic of Iran to the industrial countries including Brazil.

Addressing a gathering on IRI-Venezuela economic, industrial and investment cooperation, Alishiri said within the past 18 months Tehran has been trying to find joint projects inside Venezuela and introduce them to investors.

He said President Ahmadinejad is due to visit Latin America next month adding the government believes talks with the countries should be boosted.

The Deputy Minister further said IRI is due to hold almost 20 foreign investment meetings untill the end of the year for boosting economic ties with Latin American countries.

An Iranian marketing and trade delegation is slated to visit Brazil early in December, an Iranian official announced on Saturday

“The Iran-Brazil friendship association in coordination with the Trade Promotion Organization (of Iran) will dispatch a marketing and trade delegation to Brazil on December 5,” Head of Iran-Brazil Friendship Association Mir Qassem Momeni told FNA.

He added that the visit will be aimed at a study of investment and economic opportunities for the two countries.

The delegation is scheduled to meet with Sao Paulo’s Chamber of Commerce as well as Brazilian traders and businessmen in a bid to attract Brazilian investors to Iran and develop Tehran’s exports to the South American country, the official noted.

Momeni also pointed out that based on a proposal by association members, Head of the TPO will lead the Iranian delegation in the visit to Brazil.

Brazil with a population of over 200 million people is a good market for Iranian products. In recent years the biggest part of Iran’s exports to the country included petrochemical and oil products.