(Fars News Agency)- Foreign Ministry's Director of American Affairs said volume of Iran's trade exchanges with Venezuela is set to increase to $8 billion.
The two countries trade exchanges now amount to only US$1 billion.
Addressing a one-day meeting on 'Export Potentials of Iranian Cooperatives', Fadayee Far further pointed out that technical and engineering services constitute the main part of Iran's exports to Venezuela, reports Trend.
Noting the large population of Latin countries, he said despite some investment problems, including the far distance, Latin America is a potentially desirable market for Iranian companies.
He also pointed to Iran's advantages for Latin investors and said, "The strategic situation of our country, its position as the door way to the markets of Central Asia and the Caucasus and abundance of cheap and skillful labors in various grounds are all considered as investment preferences of Iran."
Saying that Iran already has regular trade exchanges with many South American states, including Cuba, Brazil, Venezuela and Uruguay, the Foreign Ministry official said that export of industrial parts and machineries related to the agricultural and dairy production plants are the best grounds for Iran's investment and cooperation with Latin states.