In a meeting with Iranian and Venezuelan business people and representatives of private sectors, held in Caracas, Qalibaf said the framework for long-term strategic cooperation between the two countries needs to focus on trade orienting around the private sectors.
He noted that the Iranian Parliament and administration are pursuing efforts to ensure free trade with Venezuela and remove the banking obstacles.
The relations between Iran and Venezuela are based upon supply and demand, which make the mutual interaction more stable, economical and logical, Qalibaf stated.
He also proposed using Iran and Venezuela’s national currencies and employing the BRICS Pay system in the trade exchanges.
Qalibaf said Brazil’s membership in BRICS and its proximity to Venezuela allows Iranian business people to get rid of the dollar-based exchanges in trade with Venezuela.
BRICS Pay is a digital payment system, primarily for cross-border transactions, aiming to reduce reliance on the US dollar and traditional payment systems like SWIFT.
Iran formally joined the BRICS group of emerging economies in January 2024.