Caracas, 13 June 2023 (TDI): Iranian President Ayatollah Seyyed Ebrahim Raisi began his momentous diplomatic tour of Latin America on June 12, 2023. His first stop was in Caracas, Venezuela.
The visit aims to strengthen ties and facilitate mutually beneficial cooperation between the Islamic Republic of Iran and Venezuela. This is achieved by leveraging their rich energy resources, complementary economic capacities, and joint commercial potential.
Honoring Simón Bolivar’s Legacy
As part of his official visit to Venezuela, President Raisi commenced his program by honouring the legacy of Simón Bolivar. Bolivar is revered as the leader of the Latin American liberation revolutions. In addition, Raisi signed the memorial book of Simón Bolivar.
Nicolás Maduro, the President of Venezuela, officially welcomed Ayatollah Seyyed Ebrahim Raisi and the accompanying high-ranking delegation in Venezuela’s Miraflores Palace. The First Lady of the Islamic Republic of Iran, Jamileh-Sadat Alamolhoda, was also part of the delegation.
Petrochemical Cooperation
The leaders of both countries signed a memorandum of understanding to expand cooperation in petrochemicals to carry out joint projects, building on their already-close cooperation in oil.
During the joint press conference with Venezuelan leader Nicolas Maduro, President Raisi stated, “We have common interests, common visions, and common enemies.”
He also emphasized that the bond between Iran and Venezuela extends beyond a typical diplomatic relationship, characterizing it as a strategic alliance.
Also Read: Iran ready for cooperation with Venezuela
President Raisi stated that the volume of trade between Iran and Venezuela is anticipated to experience a significant increase. The target is to reach $10 billion in the first step, followed by a subsequent goal of reaching $20 billion.
“Iran is playing a starring role as one of the most important emerging powers in the new world,” said Maduro, claiming that “together we will be invincible.”
Iran and Venezuela are also members of the OPEC oil cartel, which has become central to international discussions on the energy crisis sparked by Russia’s war on Ukraine.
Previous Cooperation and Ongoing Challenges
The Russia-Ukraine war has renewed global efforts to solve Venezuela’s ongoing political and economic crisis. The South American country, facing a deep economic crisis, has the world’s largest oil reserves.
Raisi’s trip follows a previous diplomatic visit by Maduro in June 2022. During that visit, Maduro signed a 20-year pact with Iran to open “major fronts” for cooperation in the oil, petrochemicals, and defence sectors.
In February, Iranian Foreign Minister Hossein Amir-Abdollahian visited Caracas and held discussions with Maduro. The talks primarily focused on the “defence of their national interests faced with external pressures.”
In 2020, Iran sent 1.5 million barrels of fuel to Venezuela along with supplies to help restart struggling refineries. Washington has since accused Iran of circumventing sanctions.
Commitment to Expand Relations
Iranian President Raisi, speaking at the joint meeting of the high-ranking delegations of Iran and Venezuela, highlighted the recent expansion of relations between the two countries. However, he also emphasized the crucial need to fully utilize the diverse mutual capacities that exist between them.
He stressed the significance of upgrading their relations to further strengthen cooperation and maximize the potential benefits for both countries.
Recibimos con honores al Presidente de la República Islámica de Irán, Seyed Ebrahim Raisi, a quien le damos la bienvenida a nuestra Patria. Una visita que fortalece los profundos lazos de hermandad, en el marco de las relaciones políticas, económicas, comerciales y culturales,… pic.twitter.com/AIemznam3j
— Nicolás Maduro (@NicolasMaduro) June 12, 2023
Nicolás Maduro praised the history of strategic relations between Tehran and Caracas. He also announced his determination, along with the members of his cabinet, to initiate a new round of efforts and measures. Their goal is to expand relations with the Islamic Republic of Iran.
