Chief Operating Officer Ali Russell and Director of Football met with the massive Sao Paulo club, who can boast 30 million fans, during their trip to Brazil as part of a Scottish trade delegation.
A number of business and marketing ideas were swapped and there could be scope for the two clubs to swap youth players as part of a development process.
There might even be the chance of Rangers taking on Corinthians in a match either in Brazil or at Ibrox.
Russell told rangers.co.uk: “We are both the biggest clubs in our respective counties and we had some broad discussions. We both have big ambitions and we had a lot to discuss.
“There are options to share in terms of what we are doing in marketing and business building and also in stadium layout.
“They are building a new stadium for the World Cup in 2014 and we can offer a lot of advice on that front.
“Overall we felt there was quite a lot we could do to develop their business and from a football side there may be opportunities for youth players to come to Glasgow and vice versa.
“There is also the potential that we could set up friendly games either in Sao Paulo or in Glasgow.
“We had a very healthy meeting but our discussions are still in the early stages.”
Director of Football Smith said: “If we want to have a relationship with a club then we need to know the set-up and the culture and how the game is run in that country.
“That’s what has been crucial for us if we want to take this relationship forward. We have had good meetings with the key people in the game like club officials and agents.
“We met with Corinthians and we are meeting with Santos too. So we are making good contacts to build relationships and it is giving us an insight into best practice in terms of coaching and development of young players.
“The intelligence we now have on the market in Brazil an indeed the rest of South America is first class. Some of the people we met also deal with Argentina, Colombia, Chile and Peru.
“We met with people who deal with other major European clubs and they have a rich knowledge which is good to tap into if we are interested in a player from that area, for example.”