Venezuelan President Hugo Chavez arrived in Iran Wednesday for talks with officials on bilateral issues.
Reports say he is expected to meet with Iranian President Mahmoud Ahmadinejad on Thursday as well as launch a joint development bank and bilateral investment fund.
Mr. Chavez' visit to Iran follows a meeting with Latin American and Arab leaders in Qatar. The Venezuelan president has made several trips to Iran since Mr. Ahmadinejad took power in 2005. Both leaders have forged close ties.
Later this week, Mr. Chavez heads to Asia for talks with regional leaders.
Some information for this report was provided by AFP, AP and Reuters.