HomeEconomyVenezuela and China sign agreement that regulates investment between both countries

Venezuela and China sign agreement that regulates investment between both countries

Delcy Rodríguez pointed out that this agreement will allow the protection, promotion and flow of investments between China and Venezuela

In order to promote international trade, as well as strengthen investments, an agreement was signed with the People's Republic of China at the headquarters of the Vice Presidency of the Republic, through which the regulations that regulate the investment between both nations.

For the Bolivarian Republic of Venezuela, the signature of the executive vice president, Delcy Rodríguez, was stamped, and for the People's Republic of China, that of the representative of International Trade of the Asian country, Wang Shouwen.

The vice president specified that the agreement arises from the visit of President Nicolás Maduro to the Asian nation carried out during the last quarter of 2023.

“This agreement is very important, because it will allow the protection, promotion and flow of investments between China and Venezuela. It is really an agreement of great relevance for our country so that Chinese companies have a regulatory framework in Venezuela, so that Venezuelan companies also have investment participation in China,” Rodríguez explained.

fruitful relationship

He added that Wang Shouwen's visit has been very fruitful, because they are signing an agreement that was culminated last year with the official visit of the Venezuelan Head of State to the Asian country.

"We have also seen that a working group has been installed for the fluidity of trade, we have addressed aspects that have to do with the special economic zones where China is a global authority, we recently had visits by Venezuelan delegations to special economic zones, This fruitful and important exchange has begun,” said the senior official.

Regarding the business committee, Rodríguez said that the issue is being addressed and should be installed in the coming days. "We are laying the foundations to promote international trade, to promote and develop the engine of Venezuelan foreign trade, non-traditional imports (...) we have also seen health protocols so that Venezuelan products can be placed in China, cocoa, pork, avocado , shrimp, coffee, are good news for Venezuela,” he emphasized.

He indicated that the relationship between both countries is one of shared benefit and “foolproof.”

He stressed that the new agreement signed is of great importance for the economic development of Venezuela's productive potential. “See that there is already a regulatory framework for investment from China in Venezuela and from Venezuela in China.”

The vice president pointed out that “this is the future of relations, a giant that is also part of the Brics group, where Venezuela must formally join the group this year. This is the route of the new world, of a world without hegemonism, of a world respectful of International Law, where international commercial and economic cooperation has new aspects, new commercial and financial channels,” she said.

Rodríguez emphasized that the economies of both countries are blocked by hegemonic positions, which merits the construction of new international financial and commercial networks.

“The message of the only China that exists, and that it has transmitted to the world, is the message of brotherhood among peoples, of cooperation and friendship, based on respect,” he concluded by saying.

Shouwen: Strategic alliance

For his part, the representative of International Trade of the People's Republic of China, Wang Shouwen, highlighted that last 2023, the presidents of Venezuela and China set the goal of promoting the strategic alliance.

He explained that the agreement signed is based on “mutual benefit” and seeks to further promote development for “two-way” investments.

“The Chinese side is going to complement all internal procedures and we hope so from Venezuela,” he noted.

He indicated that several issues were also addressed, such as trade and investment, and bilateral mechanisms in the economic field, which he believes will help further strengthen bilateral relations.

He also thanked them for their hospitality.

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