The Iranian minister of industries and mines stated that the West, especially the U.S., will be grappling with the second wave of financial and economic crisis. Ali-Akbar Mehrabian made the comment in the opening ceremony of Iran's industrial achievements fair in Venezuela. He added that relations between Iran and Venezuela are strategic and can be followed as an example by other Latin American countries. According to the public relations unit of the ministry of industries and mines, the third exhibition of Iran's industrial achievements opened on Thursday in the presence of Iranian Industries and Mines Minister, Ali-Akbar Mehrabian, Venezuelan Basic Industry Minister, José Khan, and Venezuelan Trade Minister, Richard Canan.

Mehrabian stated that presidents of Iran and Venezuela have emphasized on developing all-out ties between the two countries. The ministry of industries and mines is in charge of holding joint commissions. In this visit, we will evaluate the progress of Iranian projects in Venezuela, Mehrabian added. The two countries have joint projects for short-term, midterm and 10-year long-term, including industrial projects.

Comparing industrial sectors of the Islamic Republic of Iran and Venezuela on one hand and the U.S. on the other hand, he said: "Despite all the U.S. plots in the past 30 years, Iran has become stronger day by day. With 11 years past from its revolution, Venezuela is solving domestic problems one after another despite the U.S. plots."

The Venezuelan industry minister said for his part that during five years of relations with Iran, his country's dependence to major industrial powers on many industrial goods has been removed. Boosting ties with the Islamic Republic of Iran is a strategic policy of President Hugo Chavez based on economic pattern of Venezuela, José Khan said.

The industry minister of Venezuela added that the report of the Iran-Venezuela joint economic committee's secretariat shows that Iran has successfully implemented several projects in Venezuela.

Venezuelan Trade Minister, Richard Canan, presented a report on economic relations between Iran and Venezuela and referred to the third exclusive exhibition of the Islamic Republic of Iran in Venezuela as a positive step towards boosting the bilateral relations.

The Venezuelan industry minister, José Khan, stated that the report of the joint committee's secretariat indicates the successful implementation of Iranian projects in Venezuela. More than 200 kinds of industrial goods made by 35 Iranian companies along with modern technologies were on display in the expo to show Iran's industrial capabilities. The exhibition included over 1,000 square meters of roofed space and 500 square meters of open space. Ten Venezuelan companies and organization also displayed their products and achievements in the exhibition.

The Islamic Republic of Iran has carried out several projects in Venezuela, including Samand and Pride cars production lines, tractor assembly line, cement and dairy plants, and ship building factory.