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South Africa has signed eight cooperation agreements in trade, joint investment, management of water resources and industry with Iran.
President Jacob Zuma is leading a high powered business delegation in Tehran only months after western nations lifted sanctions against the country.
Zuma and his Iranian counterpart Hassan Rouhani reaffirmed their commitment to strengthen ties between the two countries.
South Africa and Iran plan to increase non-oil trade to $1 billion by 2020.
President Zuma also told a meeting of Iranian and South African businessmen that his country plans to increase the volume of trade with Iran to as high as $8 billion by 2020.
Trade between the two countries stood at about $25 million as of 2015.
