Pakistan and Venezuela have signaled a fresh push to deepen bilateral economic cooperation, with top diplomats from both nations highlighting what they describe as 'considerable potential' for expanded trade and investment. The commitment emerged during a phone call Sunday between Deputy Prime Minister and Foreign Minister Ishaq Dar and Venezuela’s newly appointed Foreign Minister Felix Plasencia. Main Developments Dar and Plasencia reviewed opportunities to broaden collaboration across trade, investment, business, agriculture, IT, and other mutually beneficial sectors. The Foreign Office said both sides stressed the need for sustained high-level engagement to 'reinvigorate bilateral relations and further deepen cooperation.' They also reaffirmed their commitment to strengthening longstanding friendly ties and appreciated the continued close coordination between Pakistan and Venezuela at multilateral forums on shared interests. Dar congratulated Plasencia on his appointment and conveyed condolences over devastating earthquakes that struck Venezuela last month. Read also: Why Imran Khan's Sister Faces Cyber Crime Charges Over War Claims Background The 7.2 and 7.5 magnitude quakes killed about 5,000 people, according to government figures, though experts—including the U.S. Geological Survey—predict the final death toll could be nearly double that. The disaster was especially severe in La Guaira state, home to Venezuela’s main airport, a major port, and hundreds of high-rise residential buildings that collapsed fully or partially. Dar reaffirmed Pakistan's 'unwavering solidarity' with Venezuela during the crisis, while Plasencia thanked Pakistan for its humanitarian support and message of sympathy, underscoring the importance of mutual assistance in times of need. Why It Matters The call signals a strategic effort by both countries to move beyond symbolic ties toward tangible economic outcomes, particularly as Pakistan seeks new trade partners and Venezuela looks to rebuild after natural disaster and economic strain. Stronger people-to-people contacts and sectoral cooperation could unlock new avenues for growth. What's Next Both sides are expected to follow up with concrete steps to translate the 'considerable potential' identified in the discussion into actionable agreements. Sustained high-level engagement will be critical to turning diplomatic goodwill into measurable bilateral progress.