Iran and Venezuela have so far signed $20 billion worth of trade contracts, said Industries and Mines Minister Ali-Akbar Mehrabian here on Monday.
Meeting his Venezuelan counterpart José Salamat Khan, Mehrabian underlined the expansion of mutual cooperation.
Iranian President Mahmud Ahmadinejad and his Venezuelan opposite number Hugo Chaves inked different agreements today.
Pointing to the construction of a cement factory in Caracas, funded by Export Development Bank of Iran (EDBI), the official added that a similar project will start in Syria next week.
Pointing to a carmaking project in Venezuela, Mehrabian said that Iran has the capacity to manufacture 10,000 sedans in the country in 2008