President Hassan Rouhani said boosting relations with the Latin American states is a fundamental principle of Iran's foreign policy.
Rouhani made the statement in a meeting with Uruguay's Vice President Raul Sendic Rodriguez in Tehran on Tuesday, according to President.ir.
Pointing to capacities for expanding economic interactions, Rouhani said the two sides should present opportunities to private sectors and pave the way for them to work together.
The president touched upon the potential for implementing joint projects and engagement in the joint production of goods.
"By investing in plans for joint manufacturing and exporting products, the two countries can capture parts of huge markets of Latin America and Central Asia and Caucasus," he said.
Rodriguez described Tehran and Montevideo as "two long-time friends and trade partners", saying his country is determined to take collaboration with Tehran to a higher level.
"With the establishment of the joint economic commission of the two countries, a new stage in Tehran-Montevideo cooperation will begin, especially in the fields of energy and agriculture," he said.
Rodriguez stressed the need for closer consultations and coordination between the two countries in the international arena.
On Monday, the Uruguayan official who was in Tehran at the head of an economic delegation, met Foreign Minister Mohammad Javad Zarif, Vice President Es'haq Jahangiri and Parliament Speaker Ali Larijani.
Rodriguez and his delegation also attended a meeting with a high-ranking Iranian delegation headed by Jahangiri.
