(Venezuelanalysis.com) -"Venezuelan President Hugo Chávez met his Iranian counterpart, President Mahmud Ahmadinejad, in the Islamic Republic of Iran this weekend, where he signed at least 17 agreements and formalized the construction a new joint petrochemical complex on the Iranian coast, further strengthening the growing relationship between the two nations in recent years (...)

Upon arriving to Iran, Chávez emphasized that Iran and Venezuela are two nations that have taken the road toward national development without impositions from Washington . Chávez reminded journalists that for decades Venezuela was a country that only exported petroleum and imported everything else. But now, with the help of many countries including Iran, Venezuela is moving forward with multiple strategic projects. Iran has collaborated with Venezuela in various industrial projects including the production of automobiles, tractors, and plastic products.

Among the new agreements signed between the two leaders are plans for several joint companies. With the intention of strengthening the industrial sector, the two nations have agreed to study the possibility of constructing a factory to produce small pieces for the metals industry. Also discussed was the formation of a joint factory to produce tool machinery, a factory to produce machines and molds to be used by plastic companies, and another factory for the production and assembly of bicycles.

Another agreement establishes plans to build ten small plants with Iranian technology for processing milk in Venezuela. These small plants would be used by small producers in the country. The two countries also signed an accord to create a food and milk-processing company in Venezuela.

The two leaders officially inaugurated the construction of a large petrochemical complex with an annual capacity of 1.65 million tons of methanol. Located about 800 miles south of Tehran, the complex will be a joint company with 51% belonging to Iran, and 49% to Venezuela and will have a total cost of 700 million dollars.

The two governments have plans to build a second identical complex in Venezuela as well with the purpose of opening markets in Latin America to Iran as the complex in Iran will open new markets, such as India, to Venezuela (...)".