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On June 16, Iranian President Ebrahim Raisi successfully concluded his visit to three Latin American countries (Venezuela, Nicaragua and Cuba) with a series of important cooperation agreements signed covering many fields.
This is Mr. Raisi's first foreign trip since taking office as President of Iran in August 2021 and also marks a very important turning point in the relationship between Tehran and Caracas, Managua and La Habana.
During Mr. Raisi's final stop in Latin America, Iran and Cuba signed six cooperation agreements, notably a comprehensive partnership agreement between the two governments, an agreement on political consultations between the two countries' foreign ministries, and a cooperation agreement in the fields of telecommunications, information technology, mobile communications, and services.
Previously, Iran and Venezuela signed 25 cooperation agreements in the fields of trade, science and technology, telecommunications, agriculture, industry, maritime, defense, culture, mining, education, health, petrochemicals, etc. with the aim of promoting economic growth in both countries. Iran and Venezuela agreed to strengthen strategic cooperation in many fields, and expressed their desire to increase bilateral trade turnover from the current 3 billion USD to 20 billion USD in the coming time. Meanwhile, with Nicaragua, the two countries signed 3 memorandums of understanding on the establishment of an intergovernmental joint committee on economic, trade and scientific and technical cooperation; cooperation in the judicial field, etc.
Iran, Cuba, Venezuela and Nicaragua - are all suffering heavy economic impacts due to US and Western sanctions. In addition to the Eastward policy focusing on developing strategic relations with Russia and China, Latin America is also an important pillar in Tehran's foreign policy. Therefore, Iran's proactive efforts to strengthen cooperation in many fields, especially economics, trade, energy, petrochemicals, science - technology, telecommunications, health ... with these countries will bring many opportunities for economic development and escape political isolation for all parties. That is also the common goal of Venezuela, Nicaragua and Cuba.
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