Economy, Domestic Economy

Venezuelan Ties

Venezuelan TiesVenezuelan Ties

In a meeting between Presidential Chief of Staff Mohammad Nahavandian and Venezuelan Vice President for Economy Rodolfo Marco Torres in Tehran on Sunday, the two emphasized on expansion of economic, scientific and cultural relations between Tehran and Caracas. Nahavandian praised Venezuela’s positive economic growth, adding that reducing reliance on oil revenues should be a top priority for oil-dominated economies such as Iran and Venezuela, IRNA reported. He noted that the Iranian government managed to considerably lower inflation rate and achieved positive economic growth over the past year through minimizing the damage caused by oil market fluctuations. The Venezuelan vice president also underlined the need for cooperation between oil-rich countries to create a balance in the oil market.