On Wednesday Venezuelan President Hugo Chavez signed a long-term agreement with the Chinese Development Bank aimed at financing some 137 development projects planned for the 2013 – 2030 period.
According to Venezuelan president Hugo Chávez, the economic and political strategic alliances built and strengthened by Venezuela over the last 12 years will help the country to face the blows of the world economic crisis from a stronger position.
This week Venezuelan President Hugo Chavez underscored the importance of the Venezuelan Academy of Agricultural Sciences (ACAV), the first national education, research, and extension center dedicated to improving agricultural production in the Latin American nation.
Trade between China and Venezuela has increased by 50 times in the last decade, which has transformed the Asian country into the second largest trade partner of Venezuela, a fact evidenced by the consolidation of bilateral relations.
The Venezuelan government signed an agreement with China last Thursday to build and launch a second satellite, this time for environmental management, urban planning, agricultural activity, climate and climate change monitoring, containment of the advance of desertification, and attending to and mitigating extreme conditions.
Venezuela and China are charting the road to the future, seeking new strategic alliances in areas such as food security, infrastructure and machine construction. In building closer relations, the two governments began 2011 with intense joint work by their respective delegations.
As part of government initiatives to help increase food production and decrease prices, Venezuela and China signed an agreement to form a joint venture food company on Saturday.
Venezuela’s bilateral economic relations with China took several steps forward recently as Venezuela tapped a $5 billion credit line from China and the two nations moved forward on deals in agriculture, civil aviation, and the steel industry.
Yesterday government representatives from Venezuela and China signed seven agreements in Caracas, six energy based ones and one around petroleum. China also offered US$20 billion in financing, the largest offer it has made in the last fifty years.
Venezuelan and Chinese government officials and business leaders met in Caracas this week to discuss bilateral relations. As a result of the accords signed at the meeting, Venezuela will increase its supply of oil to China to more than 600,000 barrels per day next year, and China will increase its investments in Venezuelan agriculture, infrastructure, mining, and energy production.
