Venezuela and China define strategies for further cooperation

The governments of Venezuela and China established strategic lines on Monday to boost bilateral relations until 2030, after an eight-hour meeting held at the Miraflores Palace, seat of the Venezuelan government.

"We're a winning team of the century.'s Why I always say xie xie (thank you) to China," Chavez said after concluding a meeting in Caracas, which ended with the signing of two legal documents to accelerate the development of bilateral projects.

This meeting represents the completion and delivery of product recommendations made by specialists in Asian tour to the South American country for two weeks.

The working visit of the Chinese delegates from Venezuela came as a result of the credit line to sign the Development Bank of China to Venezuela in mid-April by 20 billion dollars to the non-oil projects.

The meeting set by President Chavez as the beginning of the second decade of the relations between China and Venezuela are materialized in the signing of a major mining project.

"It is an arc aluminum mining, iron and gold, will be advanced, and should boost local productivity," said Chavez, who proposed since late last year to diversify Venezuela's oil production to the mining sector.

In this regard, the president of the state Ferrominera Orinoco, Radwan Sabbagh, told Xinhua exclusively during the trip, which involved more than 30 Chinese specialists, Venezuela and China visualized in the mining area over 50 mining projects common.

"You enter a strategic partnership the two countries seeking to supplement their strategies for economic and social development, building on the strengths that each one," Sabbagh said to indicate that technology transfer and financing are vital to Venezuela.

The official explained that during the visit of the Chinese delegation to the mining areas with the highest concentration located in southwestern Venezuela, the panel expressed great interest in gold, coal, aluminum, bauxite and iron-aluminum and steel.

Earlier, a source at the Ministry for Basic Industries and Mining, who asked to conceal his identity, told Xinhua that the mining agreement includes a memorandum for geological studies of Venezuelan soil.

"We present information on planning a short (2010-2012), medium (2013-2019) and long term (2019-2030). We deliver comprehensive plans and planning of the eight specific areas for consideration by the Venezuelan friends", summarized by party adviser Development Bank of China, Liu Kegu.

The eight areas of development are: electricity, transportation, mining, agriculture, industry, housing, finance and oil, gas and petrochemical industries.

Liu also expressed his confidence that the working meeting on Monday will have positive impacts for social and productive development of the country that consumes more goods than it produces.

Another positive impact of the Chinese visit to Venezuela was the realization on the 14th of four agreements with the company Haier.

The Venezuelan government initialed the purchase of 229,000 appliances to the fourth global firm in this area, as well as a factory installation of these items mixed with Haier, for the production of one million units on Venezuelan soil.

Venezuela is the fifth trading partner of China in Latin America, a relationship that increased with a bilateral Heavy Fund which currently has 12,000 million U.S. dollars for the economic and productive development of Venezuela.

According to Chinese government statistics, Venezuela and China share in the year 2009 a trade by 7150 million. (Xinhuanet)
26/05/2010

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