Iran, Venezuela looking to boost trade to $20 billion: Raisi

Caracas, June 12 (EFE).- Iran and Venezuela are looking to boost economic and trade cooperation to $20 billion from the current $3 billion, Iran’s President Ebrahim Raisi said Monday during an official visit to the Caribbean nation.

Raisi said that the goal was to first increase trade and economic cooperation to $10 billion and then to $20 billion during the next stage.

The Iranian leader made these remarks at the Miraflores presidential palace in Caracas, accompanied by Venezuelan President Nicolás Maduro.

Raisi said that the leaders had already discussed cooperation in all fields and hoped that the agreements that have been signed – which he described as an expression and manifestation of the will of the countries to boost ties -, allowed Iran and Venezuela to take more significant steps in their relationship.

Maduro said that another objective was to increase the frequency of flights between Caracas and Tehran in a bid to increase tourism between both nations, as well as inaugurate science and technology parks in all regions of Venezuela.

“I have asked the president of Iran for increasing support for the development of powerful cooperation in science and technology, and our scientists are already working together,” he said.

On Monday, Maduro and Raisi signed more than 20 agreements in petrochemicals, transport, mining and other areas, with which they hope to boost bilateral cooperation for the next 20 years.

A memorandum of understanding was also signed between both countries to strengthen and expand opportunities for petrochemical exploration and exploitation.

Iran has become one of the main allies of the Maduro administration in recent years, especially since 2020, when Venezuela was facing a shortage of gasoline and turned to Tehran to buy fuel. EFE


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