Venezuela and China sign agreement for reciprocal promotion of investments
Photo: Venezuela’s vice-presidency X account.
Venezuela and China have signed an agreement for the reciprocal promotion and protection of investments. This pact, which establishes a regulatory framework for Chinese companies investing in Venezuela and encourages the participation of Venezuelan companies in China, was announced this Wednesday by Venezuela’s Vice President, Delcy Rodríguez.
“We are laying the foundations to boost international trade and develop the engine of Venezuelan foreign trade,” Rodríguez declared during the announcement, accompanied by China’s International Trade Representative, Wang Shouwen. The signing of the agreement is the result of President Nicolás Maduro’s visit to China in the last quarter of last year, an initiative that has been fundamental in realizing this pact.
Rodríguez also expressed her hope that Venezuela will formally join the BRICS bloc, composed of Brazil, Russia, India, China, and South Africa. The Vice President sees this group as “the route of the new world” that will open “new commercial and financial channels” in response to the economic blockade facing Venezuela, according to the executive.
As part of the strategic relations with China, Venezuela’s Ministry of Foreign Affairs highlighted the importance of these alliances, emphasizing China as a significant global partner based on mutual respect and complementarity.
In another diplomatic development, Venezuela reaffirmed its support for the “one China” principle in response to the recent inauguration of Taiwan’s President, Lai Ching-te, whom it labeled as a “secessionist.” In a statement from the Foreign Ministry, Venezuela reiterated that Taiwan is an “inalienable part” of Chinese territory and rejected any foreign intervention that could destabilize the region.
The recent agreement with China is part of Venezuela’s broader efforts to expand its international commercial relations. Similarly, this month, the Venezuelan Parliament approved a law for the reciprocal promotion and protection of investments with Turkey. This legal instrument aims to advance areas of investment, trade, and economic integration with other countries.
The relations between Venezuela and China have been close since the presidency of the late Hugo Chávez and have intensified during Nicolás Maduro’s administration. Additionally, Venezuela reiterated its “eternal friendship” with China, committed to deepening political and bilateral ties, strengthening a strategic alliance that continues to grow over time.
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