Bolivian President Evo Morales says the Islamic Republic and Bolivia pursue a common objective in fighting against imperialism and injustice in the world, Press TV reported.
"Iran and Bolivia have identical revolutionary conscience which allows for the expansion of relations and accounts for the closeness of the two states," IRNA reported the Bolivian leader as saying in the northwestern Iranian city of Tabriz on Monday.
He also pointed out that both countries are determined to further boost ties in the near future.
The Bolivian leader also called for the transfer of Iran's tractor producing technology to his country. He made the comments after paying a visit to the Tabriz Tractor Manufacturing Company.
Morales, who is in Iran for a three-day state visit, will also seek more Iranian investment in the South American country.
During his second visit to Iran over the past two years, Morales will hold discussions with Iranian authorities on the details of a plan for $287 million in Iranian investment in Bolivia.
Tehran and La Paz are also expected to sign agreements on cooperation in cement production, industrial machinery, and food industry projects.
In 2007, President Mahmoud Ahmadinejad became the first Iranian chief executive to visit Bolivia. During the trip, the two countries signed an agreement on conducting joint projects worth more than one billion dollars.