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Chavez arrived in Tehran on Saturday for a two-day stay after visits to Russia and Belarus where he has tried to consolidate political opposition to the US.
Chavez and Ahmadinejad are expected to sign a number of agreements including the construction of 7,000 houses, a petrochemical plant and a vocational training centre in Venezuela.
In addition to their anti-US stance, the two countries enjoy warm ties and co-operation in the energy sector.