Iran\'s Ambassador to Azerbaijan Mohsen Pak Ayeen underlined that running the country\'s economy without reliance on trade with the US and Europe is possible in case of cooperation, solidarity and a new approach to the use of Iran\'s potentials. “This is the reason why Iran’s economic activities have been directed toward the expansion of ties with Asian, Latin American and African countries,” Pak Ayeen said, stressing the necessity of reducing the Iranian economy\'s reliance on trade with the US and European countries. A key priority of the new Iranian administration’s foreign policy is to forge close ties with neighboring countries, the Iranian diplomat added. Pak Ayeen said he believed that Iran’s foreign economic activities should be concentrated in new sectors. Iran has in recent years expanded friendly ties with Latin America, specially in economic, trade and industrial fields. Since taking office in 2005, Iranian President Mahmoud Ahmadinejad has expanded Iran\'s cooperation with many Latin American states, including Venezuela, Bolivia, Ecuador and Cuba. Iran\'s strong and rapidly growing ties with Latin America have raised eyebrows in the US and its western allies since Tehran and Latin nations have forged an alliance against the imperialist and colonialist powers and are striving hard to reinvigorate their relations with the other independent countries which pursue a line of policy independent from the US. Meantime, Tehran has also prioritized promotion of its economic and political ties with the African states and the country is now considered as one of the African Union\'s strategic partners. Tehran\'s efforts to boost ties and cooperation with Africa have led to its acceptance as an observing member of the African Union (AU), where it has shown an active presence in the AU summit meetings. In October, Ahmadinejad called on Asian states to build stronger cooperation at international level in a bid to confront the current discriminatory structure of the global relations.