TEHRAN – Iranian Parliament Speaker Mohammad Bakar Karibakh said Tehran and Caracas are determined to expand comprehensive bilateral cooperation, calling for the transition from dollar-based trading to national highways and the use of the BRICS wage system in trade relations.
Karibahu made his remarks on Sunday during a meeting between Iranian and Venezuela business leaders in Caracas and private sector representatives. This visit marks the beginning of his three countries’ tour of Latin America. This would take him to Cuba and Brazil to participate in the parliamentary forum of BRICS countries.
Kalibahu highlighted the need to overcome existing obstacles to banking and finance, highlighted the role of joint banks in Iran and Venezuela, and the possibility of BRICS Pay, a possible BRICS Pay, an alternative to Swift System.
“Replacing the dollar with national currency and regional payment systems like BRICS Pay can neutralize the impact of foreign pressure on our economy,” he said. “Traders and private sector actors in Iran and Venezuela are at the forefront of an economic warfare unfolded by our common enemy.”
The speaker reaffirmed that expanding Iran-Venezuela ties was the decisive policy of the Islamic Republic and called for the rapid implementation of long-term strategic agreements to solidify cooperation across key sectors.
“More cooperative countries with shared interests and common enemies can use opportunities more effectively and face threats,” he said.
Kalibahu pointed to a wide range of areas of cooperation, particularly in oil, energy and OPEC-related coordination, as an important example of the strategic alignment of both countries. He also emphasized the importance of exploiting the geographical benefits of both countries to enhance economic growth.
Iranian speakers highlighted the urgency to remove banking hurdles and establish a free trade mechanism to promote smoother private sector engagement. He pointed out that the Iran-Venezuela partnership is based on sustainable, logical economic principles based on mutual demand and demand.
In June 2022, Iran and Venezuela signed a 20-year cooperation agreement during Venezuelan President Nicolas Maduro’s official visit to Tehran. The agreement includes collaborations between oil, petrochemicals, defense, agriculture, tourism and culture, providing for repairs to Venezuelan refineries and exports of Iranian technology and engineering services.