Iran Boosts Transfer of Technology to Venezuela

TEHRAN (FNA)- Venezuela’s Minister of Light Industries and Trade William Contreras held a meeting Monday with a delegation from Iran’s Cooperatives Ministry.

According to Contreras, the meeting was intended to share experiences and seek greater cooperation in the area.

He added that they considered the possibility to establish a “socialist-style factory” based on the operational model of cooperatives, and to hold a related fair in Iran.

In Iran, the system of cooperatives comprises 23 million people, said Contreras citing the visiting delegation.

Within the framework of Iran-Venezuela industrial cooperation, authorities are to strengthen technology transfer and boost mass production projects, such as an Iranian car manufacturing plant, which intends to produce 10,000 units per year, the minister said.