The Islamic Republic of Iran has always been interested in expanding its political and economic ties with Latin American countries, Nematzadeh said in a meeting with visiting Ecuadorian Minister of International Trade Diego Aulestia Valencia here in Tehran.
He further hailed the good political ties between Tehran and Quito, but at the same time regretted the low level of bilateral economic relations.
Nematzadeh urged planning for development of economic cooperation between Iran and Ecuador.
There are very good capacities for promotion of mutual cooperation between the two countries, he said, hoping that the Ecuadorian delegations visit to Tehran would help to enhance the interactions.
Aulestia Valencia, for his part, expressed Quitos interest in developing its economic relations with the Islamic Republic, saying that the South American state is trying to find ways to enhance the level of cooperation with Tehran.
The Ecuadorian minister pointed to numerous mineral resources of his country, and expressed Ecuadors willingness to cooperate with Iran in exploration, extraction, and processing of minerals.
Cheap energy, abundant water resources, and appropriate road infrastructures are good opportunities for the two countries cooperation in mining projects and mineral industries, he noted.
By Tasnim News Agency
