Venezuela and China signed an Agreement for the Promotion and Reciprocal Protection of Investments

Published at: 22/05/2024 01:20 PM

The Executive Vice President of the Bolivarian Republic of Venezuela, Delcy Rodríguez, and the representative of International Trade of the People's Republic of China, Wang Shouwen, signed this Wednesday the Agreement for the Promotion and Reciprocal Protection of Investments between the two countries.

“This agreement that we just signed today was an achievement of President Nicolás Maduro's visit to China in the last quarter of last year. Very important because it will allow the promotion and protection of investments, the flow of investment between China and Venezuela is really an agreement of great relevance for our country so that Chinese companies have a regulatory framework for investment in Venezuela so that Venezuelan companies also have investment participation in China,” said Vice President Rodríguez.

He stressed that the visit of the Chinese delegation “has really been very fruitful in Venezuela because not only are we signing this agreement (...) but we have also seen the working group installed for the fluidity of trade, we have addressed aspects that have to do with Special Economic Zones, where China is a global authority”.

He also noted that they addressed what has to do with the China-Venezuela Business Committee, which is due to be installed soon. “We are laying the foundations to promote international trade, to promote and develop the engine of Venezuelan trade, in non-traditional exports,” he emphasized.

He reiterated that the signed agreement “is of great importance for the economy in Venezuela, for economic development, for the productive potential of our country and for all productive sectors to see that there is already a regulatory framework for investment by China in Venezuela and of Venezuela in China.”

Mazo News Team