Iran and Venezuela sign 20-year co-operation agreement

Deal focuses on petrochemicals, oil, tourism, and cultural and political co-operation

Venezuela's President Nicolas Maduro, left, with Iranian President Ebrahim Raisi at the Saadabad Palace in Tehran, Iran. AP

Iran and Venezuela on Saturday signed a 20-year agreement on comprehensive economic and political co-operation, state media reported.

The deal was signed by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro, who is on a visit to Tehran, the semi-official Irna news agency reported.

The pact “shows the determination of the high-level officials of the two countries for development of relations in different fields”, Mr Raisi said.

It includes co-operation in the fields of oil, petrochemicals, and tourism and culture.

Mr Maduro arrived in Iran on Friday after visiting Turkey. This was his second visit to Tehran — the first was six years ago.

In a Friday interview with the Iranian Spanish television channel Hispan TV, Mr Maduro said that plans and strategies for the next 20 years would be reviewed at his meeting with Mr Raisi.

Earlier, Mr Maduro said Iran helped Venezuela by sending fuel despite US sanctions and threats.

“Tehran’s delivery of oil to Caracas was a great help to the Venezuelan people,” he said.

A high-ranking political and economic delegation from Venezuela, which like Iran is under heavy US sanctions, is accompanying Mr Maduro on the two-day visit.

Venezuela has received Iranian tankers at its ports in the past. Iran also has exported cars to Venezuela.