Venezuela and China Sign Mutual Cooperation Agreements

May 22, 2024 Hour: 3:46 pm

The executive vice president of Venezuela, Delcy Rodriguez, and the representative of China’s International Trade, Mr. Wang Shouwen, signed on Wednesday in Caracas the Agreement of Promotion and Reciprocal Protection of Investments Venezuela-China, which will expand investment, trade and the realization of projects in fields such as education, agriculture and others.

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Rodríguez highlighted that the agreement has its origin in the visit made by President Nicolás Maduro to the Asian country in September 2023, and stressed that it will open the way to the flow of investments in both directions.

He considered that it has great relevance for the companies of the Asian giant have a regulatory framework and Venezuelans can participate in investments in the Asian nation. He said it will have positive impacts on production and trade.

He said that Venezuela plans to join this year the Brics group, which represents an emerging world, multicenter and multipolar, respectful of international law, with new financial and commercial channels that create a safeguard against the economic war of hegemonic powers, with common paths between peoples and a cooperation based on respect and brotherhood.

#EnVideo��| Vicepresidenta Ejecutiva, @delcyrodriguezv y el Representante de Comercio Internacional de China, Wang Shouwen, firmaron el Acuerdo de Promoción y Protección Recíproca de Inversiones Venezuela – China. #PuebloMaduroPaLasQueSea pic.twitter.com/CluTkcnjrY

— VTV CANAL 8 (@VTVcanal8)
May 22, 2024

The text reads,

Executive Vice President,
Delcy Rodriguez
and China’s International Trade Representative, Wang Shouwen, signed the Venezuela – China Investment Promotion and Protection Agreement.

He described as fruitful the visit of Shouwen and his delegation to Caracas, because in addition to working on this agreement a working group was installed to promote fluidity in trade.

He added that the parties also addressed aspects of the Special Economic Zones (SEZs), an area in which China is a global authority. He recalled that Venezuelan delegations visited EEZ from China and studied their experiences.

The Venezuelan vice president expanded that addressed the China-Venezuela Business Committee, which should be installed, and laid the foundations to boost international trade and take non-traditional exports to another plane, even sanitary protocols so that Venezuelan products such as cocoa, coffee, beans, avocado and seafood can be located in China.

This agreement is good to continue strengthening and diversifying the Venezuelan productive model. This is good news for both countries, between which there is a relationship of shared benefit, strategic, to all tests and to all events, he stressed.

Shouwen recalled the visit of Maduro Moros to China and the commitment agreed with his head of state, Xi Jinping, to expand the bilateral relationship. It considered that the agreement would promote development, production and investment. He expressed that his country will specify all internal procedures to implement it and conveyed his assurance that bilateral ties will continue to improve.

According to the Ministry of Industries and National Production, Venezuela and China have registered more than 600 strategic agreements in various areas essential for the development of both peoples.

Members of the Venezuelan delegations that visited China and studied the experiences of the EEZs presented their assessments in the program “Con Maduro +” at the beginning of May. They also referred to identified potentialities that will contribute to the development of the two countries.