The current volume of trade transactions between Iran and Latin American countries stands at nearly $4 billion, but there is more capacity for cooperation, head of the Americas at Iran’s Foreign Ministry said. Director General for the Americas at Iran’s Foreign Ministry, Mohammad Keshavarz-Zadeh, made the remarks on Monday during a review session of opportunities for cooperation between Iran and Latin American countries. He stressed that there is no obstacle to expansion of ties with Latin America and there is a strong political will on the Iranian side for developing relations with that side of the world. In addition to cooperation in mine and mining industries, Iran welcomes expansion of cooperation in the fields of heavy industries, aerospace, biotechnology, and nanotechnology, he added. He stressed that Foreign Ministry will support all Iranian companies wishing to have an active presence in Latin America. According to Keshavarz-zadeh, many problems currently hampering the expansion of relations between Iran and the Latin American countries is due to a lack of knowledge of the existing opportunities and capacities. He added the visits of Foreign Minister Zarif and President Rouhani to various Latin American countries in the past two years indicates Iran’s keen interest in developing ties with these nations. The volume of foreign trade of the Islamic Republic of Iran excluding oil exports in 2016 reached nearly $90 billion, with $43.9 billion in exports and $43.6 in imports.