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Venezuela and China sign paramount cooperation agreement

Caracas, May 22 (Prensa Latina) The Governments of Venezuela and China signed on Wednesday in this city a paramount cooperation agreement that deepens the strategic alliance partnership between the two countries.

The document was signed by Executive Vice President Delcy Rodriguez and Wang Shouwen, the Chinese representative for International Trade.

Rodriguez told reporters that what happened on Wednesday was the result of an achievement of President Nicolas Maduro’s visit to China in the last quarter of 2023.

The authority described the document as ‘paramount,’ as it allows the promotion and protection of investments and their flow between Caracas and Beijing. The also Minister of Economy, Planning and Foreign Trade attached great importance to the agreement for the Bolivarian Republic, so that Chinese companies have a regulatory framework for investment in the country and Venezuelan companies have a regulatory framework for investment in China, as well.

Rodriguez considered Wang’s visit to Venezuela to be very fruitful because not only did they sign this pact, which was sealed during the President’s visit, but also because there were working groups for the fluidity of trade and they addressed other issues such as the Special Economic Zones (SEZs).

They further discussed the China-Venezuela Business Committee, which should be set up soon, the leader announced.

Rodriguez stressed that both nations are promoting the foundations of international trade and developing the engine of Venezuelan foreign trade with non-traditional exports, as well as reviewing the sanitary protocols for Venezuelan products to be placed in China.