Iranian President Ebrahim Raeisi has said that Iran and Venezuela have the capacity to increase their annual trade exchanges to $20 billion.
President Raeisi, who is on a visit to the Venezuelan capital on the first leg of his five-day tour of Latin America, made the remarks at a joint press conference with his Venezuelan counterpart Nicolas Maduro in Caracas on Monday afternoon local time.
He said that the volume of trade exchanges between the two countries was as few as $600 million two years ago while now the figure tops $3 billion.
In the first step, the two countries are capable of witnessing $10 billion dollars in their trade exchanges, and in the second step, they can touch $20 billion, the president underlined.
Pointing to the signing of 19 agreements on cooperation in various fields between the two countries, President Raeisi said that today, Iran and Venezuela are determined to develop relations.
The Iranian president arrived in Caracas on Monday where he was accorded warm welcome by his Venezuelan counterpart Nicolas Maduro at the Miraflores Presidential Palace.
After holding talks with the Venezuelan president, Raeisi described the negotiations as fruitful and constructive.
Raeisi’s Latin American tour will later take him to Managua, and Havana.