"The Islamic Republic of Iran has planned a 50-billion-dollar investment in its mining, and industries sectors and the Latin American countries' participation in these areas is welcomed," Karbasian said.

He reiterated that Iran is interested to cooperate with Latin America in the economic and trade fields.

In relevant remarks in March, Iranian Foreign Minister Mohammad Javad Zarif underlined his country's enthusiasm for the further broadening of relations and cooperation with the Latin American states.

"I feel that Latin America is an important and apt field for our relations. We have very good political ties with Latin America and it is necessary that these political relations consolidate with extensive economic ties and political relations," Zarif told reporters in Caracas at the end of his tour of 6 Latin American countries of Cuba, Nicaragua, Ecuador, Bolivia, Chile and Venezuela.

Stressing that his Latin American tour yielded highly good results in developing bilateral relations, he said that different agreements were signed between Iran and the Latin American states in banking, shipping, economic, political, exports, technological and scientific fields.

"During the Venezuela visit, we formed a joint committee to settle the problems remaining from the past, specially during the sanctions era," Zarif said.

"We also agreed on establishment of brokering relations" with all six countries to further expand banking ties.

Zarif is accompanied in the Latin America tour by a business delegation of figures from private and public sectors covering fields ranging from petrochemicals, mining, medicine, automobiles to agriculture and engineering.