By Mumin Altas 

CARACAS, Venezuela

Turkey’s Vice President on Saturday called on Turkish businesspeople to focus on Latin America for investments.

Speaking to the reporters, Fuat Oktay said there is a tremendous potential in Latin American and in Caribbean countries, adding the region is "extremely" important for Turkey's future goals.

Oktay's remarks came after his meeting with several officials from South America in the Venezuelan capital Caracas.

Latin American and the Caribbean countries take interest in Turkey and President Recep Tayyip Erdogan, Oktay said, adding: "We are in efforts to turn this interest into economic and commercial cooperation."

One of the many projects that Cuba has proposed for cooperation has been the production of common pharmaceuticals, he said, adding there are a few areas where Cuba has made significant progress in biotechnology and drug production, he stressed.

Turkey’s Vice President Fuat Oktay and Cuban President Miguel Diaz Canel also agreed to hold Turkey-Cuba Joint Economic Commission meeting in 2019 during Canel's visit to Turkey on the invitation of Erdogan.

Oktay went to Venezuela to attend Venezuelan President Nicolas Maduro's oath-taking ceremony on Thursday.

The oath-taking ceremony was held in the capital Caracas for Maduro, who was re-elected last May.

The 56-year-old leader first took office in 2013 after his predecessor Hugo Chavez died and will govern Venezuela for another six years.