Venezuela and Iran moved to reinforce their bilateral cooperation during a business forum held in Caracas on June 2, with senior officials from both sanctions-hit nations advancing new trade and technology initiatives aimed at bypassing bureaucratic bottlenecks and expanding economic collaboration, El Universal reported. 

The gathering brought together government and private sector representatives under the framework of the Venezuela-Iran Joint High-Level Commission.

Ramón Velásquez Araguayán, Venezuela’s Transport Minister and co-chair of the commission, underscored the visit of Mohammad Baqer Qalibaf, head of Iran’s Consultative Assembly, as a symbolic boost to joint ambitions. 

Velásquez said the two sides are prioritising the elimination of administrative barriers and accelerating trade flows, particularly through technological partnerships and institutional alliances.

Among the new ventures unveiled, a fibre optic manufacturing facility is set to be established in La Guaira in partnership with Iran’s MDC company. 

In the health sector, Venezuela has launched its first care unit equipped with Iranian hemodialysis machines, offering lower-cost treatment options. 

A new Iran-Venezuela Scientific Center is also in development to showcase Iranian technology and facilitate business integration.

Iranian insurers have begun operations in Venezuela, providing coverage for sectors including aviation, with state airline Conviasa already using Iranian insurance for three years. 

Velásquez stressed that the goal is to create a robust trade structure that bridges public and private entities across both countries.

Foreign Minister Yván Gil, who hosted Qalibaf at a dinner, characterised the visit as a reaffirmation of “deep friendship” and mutual resistance to foreign sanctions. 

Both governments, which regard their relationship as a "strategic alliance," reiterated their commitment to "building a multipolar global order" while consolidating political, economic, and cultural ties.