Iranian President Hassan Rouhani is scheduled to participate in an upcoming summit of the Group of 77 developing countries in Bolivia's eastern city of Santa Cruz next month, PressTV reported.
The visit will take place upon the formal invitation that Bolivian President Evo Morales extended in a meeting with Iranian Deputy Foreign Minister for Europe and Americas Majid Takht-e Ravanchi in the capital, La Paz, on January 20.
It will be President Rouhani's first trip to Latin America since he took office in June 2013.
The Group of 77 was founded on June 15, 1964, by the "Joint Declaration of the Seventy-Seven Developing Countries" issued at the conclusion of the United Nations (UN) Conference on Trade and Development (UNCTAD).
The group is a coalition of developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the UN. The founding members of the organization were 77 countries; but, by November 2013, the organization's member states expanded to 133.
The Group of 77 holds a one-year and rotating presidency among Africa, Asia and Latin America. Bolivia holds the chairmanship for 2014.
Iran was last elected as the rotating head of the group in 2001.