The Uruguayan vice president said Tehran and Montevideo are in discussions aimed at striking agreements in a vast range of domains, from banking to technology.
"Diplomatic talks and a meeting of the joint economic commission between the two countries will be held in the near future, which will witness the signing of various deals, especially on banking relations to facilitate bilateral trade," Raul Sendic was quoted as saying by IRNA.
Sendic made the statement after a meeting between the two sides' high-level delegations in Tehran on Monday, co-chaired by him and Iran's First Vice President Es'haq Jahangiri.
"We also discussed an agreement on the sale of Iran's oil to Uruguay, cooperation in the fields of science, technology, sports and tourism, and ways of promoting cultural ties," he said.
Sendic's visit came more than three months after Tehran was granted relief from international sanctions under the July 2015 nuclear deal with P5+1 (the five permanent members of the UN Security Council plus Germany).
The removal of sanctions went ahead on the implementation day of the accord, January 16, in exchange for temporary constraints on Tehran's nuclear program.
The Iranian official hoped that the process of sanctions removal would go ahead smoothly.
Jahangiri said it was agreed to convene the Iran-Uruguay Economic Commission soon to follow up on talks regarding expansion of political and economic relations.
"We need to hold more consultations on regional and international issues," he added.
Sendic was also scheduled to meet other officials, including President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif.
