Esmaili said the Brazilian delegation had in its Sunday meeting with Iranian officials reached agreement on formation of a joint energy committee for the purpose.

He said Iran welcomes cooperation with Brazilian top companies. "Further talks in that respect will continue."

Minister of Petroleum Bjan Zangeneh had told Brazilian Minister of Energy and Mines Fernando Coelho Filho said Brazil is a powerful country with a big market of technology. "In my opinion we should establish long-term, strong and strategic cooperation with Brazil."

Zangeneh said the requisite for Iran-Brazil cooperation is solid banking relations. "In the visit Iranian Minister of Economy and Finance Ali Tayebnia had to Brazil, there were discussions which should continue in Tehran."

Brazil is the most important economic partner of Iran in Latin America and volume of their economic relations is estimated to be about two billion dollars.