TEHRAN- Iranian President Ebrahim Raisi said that the value of trade between Iran and Venezuela can be increased to $10 billion in the first step and to $20 billion in the second step.

Making the remarks in a joint press conference with his Venezuelan counterpart, Nicolas Maduro, in Caracas on Monday afternoon local time, Raisi referred to the increase in trade between the two countries from $600 million in the Iranian calendar year 1400 (ended on March 20, 2022), to more than $3 billion at the present.

The president described the signing of 19 cooperation documents between the two countries in the fields of industry, mining, agriculture, energy, and science and technology as a manifestation of the will of both sides to expand relations between them and stated: “I hope that by implementing these documents, we can take a big step in improving the level of relations between the two countries.”

Iran, Venezuela sign documents on energy, agriculture, mining, transport co-op

Iran and Venezuela signed 19 documents and memorandums of understanding (MOUs) for cooperation in a variety of areas including energy, agriculture, mining and transport, in Caracas on Monday.

The documents were signed in the presence of the two countries’ presidents.

The two sides also agreed to cooperate in communications and information technology, insurance, maritime transportation, higher education, medical and pharmaceutical, and cultural fields.

The two sides have also signed several deals regarding the development of Venezuela’s oil fields and terminals, as well as restoring the country’s refineries and petrochemical complexes.

Iran’s Oil Minister Javad Oji, Foreign Minister Hossein Amir-Abdollahian, Defense Minister Mohammad-Reza Ashtiani, Health Minister Bahram Eynollahi, and Culture Minister Mohammad-Mehdi Esmaeili and their Venezuelan counterparts signed the documents.

President also met Iranian and Venezuelan traders and businessmen during his stay in Caracas.

EF/MA

Photo: Iranian Oil Minister Javad Oji (4th L) and Deputy Foreign Minister for Economic Diplomacy Mehdi Safari (5th L)