Raisi made the remarks at a joint press conference with his Venezuelan counterpart Nicolas Maduro in Caracas on Monday afternoon local time.
The president underlined that a in a first phase Iran and Venezuela are capable of reaching $10 billion in annual trade before they push to hit a $20-billion target.
According to Raisi, trade between the two countries had increased from $600 million in two years ago to $3 billion.
Speaking about Iran-Venezuela ties, the president said the two have some common interests and viewpoints about independence, freedom, and justice.
He went on to say that the Islamic Republic has always shown its friendship to Venezuela during difficult days in the past years as he described Iran’s relations with Venezuela as "strategic".
Pointing to the signing of 19 agreements on cooperation in various fields between the two countries, Raisi said Iran and Venezuela are determined to expand their relations.
Senior Iranian and Venezuelan officials signed 19 agreements to boost cooperation between the two countries in a meeting attended by the two sides’ presidents in Caracas.
Raisi arrived in Caracas earlier on Monday and was welcomed by his Venezuelan counterpart Nicolas Maduro at the Miraflores Presidential Palace.
The Iranian president is on a four-day Latin American tour which will also take him to Nicaragua and Cuba.
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