“For the first time, I met with Ebrahim Raeisi, the president of Iran, one of the countries that will join the BRICS as of 2024,” Lula wrote in a post published on his X (formerly known as X) page, after a summit of the bloc in Johannesburg.

“Iran was the largest importer of Brazilian products in the Middle East in 2022, having imported almost $4.3 billion worth of commodities, and should continue to be an important commercial partner for Brazil in the coming years.”

Brazil is a major trade partner for Iran. Its exports to Iran include animal feed and meat, among other products, while imports mostly cover fertilizers, including urea supplied by Iranian petrochemical companies.

Iran hopes to double its trade with Brazil within a few years to reach an annual target of $10 billion, Fakhreddin Amerian, who chairs Iran’s trade center in Brazil and heads the Iran-Brazil Joint Chamber of Commerce (IBJCC), said in early June.

Raeisi and his Brazilian counterpart met on the sidelines of the 15th meeting of the BRICS group of emerging economies in South Africa’s largest city of Johannesburg.

BRICS was formed by and initially consisted of Brazil, Russia, India, China, and South Africa, which collectively represent around 40% of the global population and a quarter of the world’s gross domestic product (GDP).

Iran was among dozens of countries that sought membership in BRICS and had submitted a formal application to join the body.

DAY/PR