(PL News) - "Venezuela and Iran signed 14 new cooperation agreements, adding to 164 existing accords, in what authorities from both countries called an expression of their willingness to strengthen bilateral ties.

The boost given to these relations came in the context of a visit by President Hugo Chávez of Venezuela, who arrived in Iran as part of an international tour.

The agreements, formally approved in a ceremony at the Iranian Ministry of Industry and Mines, include joint enterprises for oil exploration, food processing, trade, heavy machinery production and bicycles.

With respect to the oil industry, Venezuelan Energy and Oil Minister Rafael Ramírez highlighted the creation of a joint enterprise between the Iranian Petropars and the Venezuelan PDVSA, which will carry out a series of projects in third countries.

Likewise, companies will be established for manufacturing semi-submergible platforms for off-shore oil activities, and for laying submarine pipelines and engineering projects, as well as building methanol plants in Venezuela.

In the financial aspect, a strategic binational fund was created for backing their joint projects.

Iranian Minister of Industry and Mines Alí Reza Tahmasbi said it was extremely important that both governments are supporting an anti-hegemonic line of work with great political and economic determination".