TEHRAN, Nov 19: Venezuelan President Hugo Chavez on Monday wrapped up a visit to the Islamic republic aimed at building a “strategic unity” with fellow anti-US populist President Mahmoud Ahmadinejad.

At the end of a one-day visit, which both presidents described as “very fruitful”, the two countries agreed to create a binational bank and a joint fund to expand industrial cooperation, state media reported.

“After two years we managed to create a joint bank which I am sure other countries will join,” the state news agency IRNA quoted Chavez as saying.

“Very good agreements were signed on this trip and these agreements will create a strategic unity,” said Chavez at the end of his fourth visit since Ahmadinejad took office in 2005 to Iran, which he branded as his “second home”.

The Venezuelan president before leaving Tehran renewed his verbal attacks on the United States, wishing that “the weakening of dollar leads to the fall of the dollar empire”. “We should ask God that the corrupt US imperialism collapse as soon as possible,” he said.

Ahmadinejad for his part vowed that the two countries would “stand by each other until the end, in defence of our nations’ rights and our ideals.”

“Despite what the arrogance wants our ties are expanding in all areas,” he said, alluding to Iran’s arch-enemy the United States.

Chavez, who was accompanied by five ministers including the foreign, oil and industry ministers, last visited Iran in July, laying the foundations alongside Ahmadinejad for a joint petrochemical plant.

Both Chavez and his self-proclaimed political “brother” Ahmadinejad attended a weekend Opec summit in Riyadh, where Chavez warned oil could hit 200 dollars a barrel if the United States attacked Iran.

State television showed a smiling Ahmadinejad warmly welcoming his stocky counterpart at an official ceremony.

“They had one-and-a-half hours of private talks. They emphasised boosting bilateral relations and ties in the economy, banking, engineering and petrochemicals,” the television said.

Despite their cultural differences, Iran and Venezuela have in the last years forged increasingly strong ties based on their shared dislike of the United States.

Chavez is the most vocal cheerleader in Latin America for Iran and its nuclear programme, which is feared by the West to be a cover for weapons development although Tehran insists it is purely peaceful.—AFP