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The Chinese and Venezuelan governments strengthen economic ties

The Chinese and Venezuelan governments strengthen economic ties

Posted by Dubraswka Aguilar on April 22, 2014

Beijing and Caracas will intensify their bilateral cooperation by signing agreements in areas such as agriculture, automotive, finance industry, infrastructure and technology during the visit of China's Foreign Minister, Wang Yi, to Venezuela.

"We welcome China's Foreign Minister, Wang Yi, on behalf of President Nicolas Maduro and the venezuelan people, in order to strengthen relations with the asian giant" said the Foreign Minister of Venezuela, Elias Jaua, while receiving Minister Wang Yi at Venezuela's international Airport.

The objetive of the visit is to review China cooperation agreements signed between the two countries in recent years, including projects such as the Chinese-Venezuelan Fund, which has allowed Caracas receive 15 billion dollars in loans paid by Venezuela with oil. The most recent agreements, signed in September 2013, are oriented to build a bilateral company for oil exploration at Orinoco Oil Belt and hiring a Chinese company to produce a map of mineral resources that exist in Venezuela's territory.

The agenda includes a meeting with President Maduro and a visit to historical places in Caracas. China's foreign minister has arrived in Venezuela from Cuba, where he began a tour that will take him to Argentina and Brazil. Jaua said that one of the several issues that he discussed with Wang was China-CELAC forum (Community of Latin American and Caribbean States), created this year.

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