Mottaki told the Munich Security Conference that he personally believed they had created conducive ground for such an exchange in the not very distant future.
But he said it should be up to Tehran to set the amounts to be exchanged, based on its needs.
The uranium swap deal was first discussed last year between Iran and six world powers, which saw it as a way to ensure Tehran did not further enrich its uranium to a level that would be potentially usable in a nuclear bomb.
But Tehran, which denies any bomb-making intentions, had failed to respond positively to the proposal until this week.
Mottaki said he would discuss the exchange with the new head of the International Atomic Energy Agency Yukiya Amano on the fringes of the Munich Conference.
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