Tasnim– Iranian First Vice-President Eshaq Jahangiri reiterated the country’s policy to boost bilateral relations with Latin American countries, including Bolivia, in all political and economic spheres.

Speaking to reporters upon his arrival in Bolivia, Jahangiri pointed to the objectives behind his trip to the country and said he would participate in the fourth summit meeting of the Gas Exporting Countries Forum (GECF) at the request of Bolivian President Evo Morales.

The vice-president further emphasized that he will raise the Islamic Republic’s stance on energy and national gas at the summit.

He also described Latin America as “a significant region” and said the development of cooperation with Latin American countries has a special position in Iran’s foreign policy.

The fourth GECF Gas Summit will be held on Friday, November 24.

The Gas Exporting Countries Forum has 19 main and observer members and its permanent secretariat is located in Qatar’s capital city, Doha. Iran, Russia, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, Peru, the United Arab Emirates, and Oman are main members of GECF.

The forum’s observer members include the Netherlands, Kazakhstan, Iraq, and Norway.

Member states of GECF account for 42 percent of global gas production, 70 percent of global gas reserves, 40 percent of natural gas transmission through pipeline, and 65 percent of the world’s liquefied natural gas (LNG) trade.

Unlike the Organization of the Petroleum Exporting Countries (OPEC), whose main goal is to determine the supply and price of crude oil in international markets, GECF’s main goal is to monitor the global gas market and to facilitate the exchange of information and experiences among member countries.