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HomeNewsCaribbean NewsVenezuela’s vice president touts new energy investment following trip to China

Venezuela’s vice president touts new energy investment following trip to China

 “China-Venezuela cooperation is becoming an extraordinary antidote to the criminal, imperialist economic war,” said Vice president Delcy Rodríguez.

By José Luis Granados Ceja

MEXICO CITY, Mexico, (venezuelanalysis.com) – Venezuelan vice president Delcy Rodríguez celebrated strengthened economic and political ties with China following a diplomatic tour promoting South-South cooperation that also included a stop in Qatar.

Rodríguez’s agenda in China saw the Venezuelan leader hold 17 official meetings over the past few days, including a bilateral exchange with her Chinese counterpart Han Zheng, where she said the pair “reaffirmed China-Venezuela friendship and cooperation.”

The visit was framed as a follow-up to president Nicolás Maduro’s 2023 China tour which included a high-level summit with Chinese president Xi Jinping. Following Maduro’s visit, the two leaders announced they would upgrade their countries’ relations to an “all-weather strategic partnership.”

“We discussed the importance of strengthening the ties of cooperation between our nations within the framework of the all-weather strategic partnership, in the face of a new world freed from [US] hegemony,” wrote Rodríguez on social media.

The vice president’s trip to China is the second such visit since diplomatic relations were upgraded. Venezuela is the first Latin American country to reach this level.

Rodríguez, who also serves as Venezuelan oil minister, met with executives from key industries, including China National Petroleum Corporation (CNPC), where cooperation initiatives in the energy sector were discussed.

“New Chinese investments [are coming] to develop Venezuela’s [oil and gas] fields and reserves are coming,” announced Rodríguez during her exchange with president Nicolás Maduro on his weekly television program.

According to energy outlet Petroguía, the Venezuelan vice president sought to ensure that Chinese refineries continue to buy Venezuelan crude despite US threats to impose 25 percent “secondary tariffs.” The CNPC halted direct imports of Venezuelan oil in late 2019 due to the threat of secondary sanctions.

The Trump administration has escalated coercive measures against Venezuela in recent months, particularly against the oil industry. Caracas has vowed to continue strengthening its most important economic sector and has made repeated appeals for foreign investment.

The Venezuelan vice president also visited high-tech Chinese firms, where she explored artificial intelligence applications for Venezuela’s oil industry and social programs. Her diplomatic tour also included a trip to the city of Shanghai, where she met with municipal authorities and executives from tech firms Lenovo and Westwell.

“China-Venezuela cooperation is becoming an extraordinary antidote to the criminal, imperialist economic war,” said Rodríguez.

The official’s international tour also included a visit to Qatar where she met with prime minister Mohammed bin Abdulrahman Al Thani and Energy Minister Saad bin Sherida Al Kaabi to discuss cooperation on energy matters.

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