Upon his arrival in Bolivia, Jahangiri was officially welcomed by the country’s Foreign Minister David Choquehuanca.
Jahangiri is scheduled to meet with Bolivian President Evo Morales on Saturday and discuss key issues of mutual interest.
His visit comes at the official invitation of the Bolivian government. Jahangiri is to deliver a speech at the summit.
Earlier, IRNA had reported that Jahangiri met with Bolivian Senate President Eugenio Rojas Apaza on Saturday, in which he emphasized that Iran-Bolivia parliamentary cooperation can help expand constructive ties between the two nations.
Jahangiri also voiced Iran's readiness to promote relations with Bolivia in all spheres and said Iran is ready to provide Bolivia with valuable experiences.
This is the first trip of a high-ranking Iranian official to Latin America since President Hassan Rouhani's administration took office in August 2013.
The Iranian vice president is also scheduled to hold talks with several officials from the participating countries on the sidelines of the summit.
The Group of 77 was founded on June 15, 1964, by the Joint Declaration of the Seventy-Seven Developing Countries issued at the conclusion of the United Nations Conference on Trade and Development (UNCTAD).
The group is a coalition of developing countries designed to promote its members’ collective economic interests and create an enhanced joint negotiating capacity in the UN. The founding members of the organization were 77 countries, but by November 2013 the number of its member states increased to 133.