Economy, Domestic Economy

Reviving Venezuela Ties

Reviving Venezuela TiesReviving Venezuela Ties

An Iranian trade delegation is scheduled to visit Venezuela next month to put an end to the recent slowdown in bilateral trade relations, head of Iran’s Trade Promotion Organization, Valiollah Afkhamirad, said in a meeting with Venezuelan Ambassador to Iran, Amenhotep Zambrano. Iran is planning to export medicines to Venezuela, set up a bicycle manufacturing factory and implement a housing project in the Latin American country. The two sides have also discussed the establishment of direct flights between Tehran and Caracas. Trade relations between Iran and Venezuela improved during the previous Iranian administration led by president Mahmoud Ahmadinejad before it took a dip. The two countries have signed dozens of deals that are worth hundreds of millions of dollars on paper. Iran has already built cement, dairies and vehicle factories in Venezuela.