Venezuelan media reported on the agreements reached by China and the South American country as a part of a joint development plan for the next 10 years.
The agreements were signed 1st September in Beijing, where the president of Venezuela, Nicolas Maduro, arrived to take part in the events of commemoration of the 70th anniversary of China’s victory over fascism.
The president announced in his television program which was broadcast this week from China that the main areas of cooperation include joint agro-industrial, technological and oil development projects.
According to this source, China also gave Venezuela a loan of $ 5 billion for a gradual increase in oil production.
They also agreed to create special economic zones, centers of production of materials and products required in the construction of buildings, the creation of the plant for the production of tires and the expansion of the telecommunications company “Orinoco”.
Venezuela and China signed an agreement to build a plant of medium and heavy trucks, agencies and institutions for the cultural and political rapprochement between the two nations, and the creation of strategies to increase the production of gold.
According to Maduro, a comprehensive plan will enable the joint development and strengthen the strategic partnership between the two countries, the newspaper “Correo del Orinoco” writes.
In any case, it is much better for Venezuela to develop its cooperation with China and its strategic ally Russia than with the United States. It is especially reasonable for Venezuela to establish mutually beneficial relations with the BRICS countries, as it is situated close to Brazil. Hope Nicolas Maduro will choose a right path for his country and people.