Vice-president of Iran Chamber of Commerce, Industries and Mines (ICCIM) for International Affairs, Dr Entezari, and Uruguay's Foreign Ministry director for Foreign Trade, Allerto L. Fajardo, held a meeting in Tehran, discussing possible areas of co-operation.

Dr Entezari referred to the joint chambers as effective bodies for the promotion of mutual trade, and the transfer of commercial and economic information. "Iran's private sector is taking constructive steps in expanding small and medium-sized industries," said the vice-president, adding: "industry, commerce, and mining are the favorite areas of activity for the ICCIM."

He said that while Iran and Uruguay have the needed potentials to strike joint ventures on copper, the production of furniture, chandelier, carpets and heavy industries are also among other possible areas of co-operation between the two nations.

The Iranian official pointed to Iran's free trade zones (FTZs) as proper venues for joint venture projects, particularly in the chemical industries.

Mr. Fajaro informed the committee that an agreement has been signed to purchase oil from Iran, and called for the exchange of trade delegations so that the two countries can obtain a better understanding of each other's trade opportunities.