According to report released by foreign media on Wednesday, President Arce in a meeting received credential of Iran's ambassador to La Paz.
Bolivia is after reestablishment of diplomatic relations which had been damaged during the previous government, the new president noted.
Bolivia continues strengthening of joint projects with Iran, Arce added.
Arce, who won the Bolivian election with 55 percent of the votes, is to take office next week.
Iranian Foreign Minister Mohammad Javad Zarif during his recent visit to Bolivia attended swearing-in ceremony of Arce and held talks with the new president.
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