Building a world of
resilient communities.

MAIN LIST

 

Chinese VP in Caracas to sign deals

Venezuela has hailed the visit of Chinese Vice President Zeng Qinghong as a productive trip that will yield several multi-billion trade deals, mainly in the oil and gas sectors.

"This is not a symbolic visit," Vice President Jose Vicente Rangel said on Friday after welcoming his Chinese counterpart, who arrived in Caracas for a three-day visit.

About 20 accords will be signed, including such areas as agriculture and high technology, Rangel said, adding that most deals will involve gas and oil.

The accords will be signed on Saturday after a meeting between the Chinese vice president and Venezuelan President Hugo Chavez, who has officially visited China three times since 1999.

'Dealing with friends' Chavez, who last visited China in December, said Chinese investments under the accords were worth "several billion dollars because we are dealing with friends".

Chavez says his country and China are compatible for investment Chavez and Zeng will also participate in a meeting of business leaders discussing possible Chinese investment in the Venezuelan oil and gas industry as well as the purchase of Chinese farm equipment.

"Venezuela is an energy country and China consumes a lot of energy so we are naturally compatible," Rangel said.

China's ambassador to Venezuela, Ju Yijie, said there had been discussions about the two countries collaborating on a satellite project.

Venezuela is the fifth largest oil exporter and the only Latin American member of the Organisation of Petroleum Exporting Countries.

In order to further develop exports to China without impacting its traditional trading partners such as the United States, Venezuela plans to increase production over the next five years to five million barrels per day from the current level of 2.9 bpd.

Editorial Notes: Published Saturday 29 January 2005, 11:30 Makka Time, 8:30 GMT

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Debt: The Key Factor Connecting Energy and the Economy

There are many who believe that the use of energy is critical to the growth …

Can the Climate Movement Break Free from the ‘Jobs vs. Environment’ Debate?

Where unions and greens coalesced around confronting rampant workplace …

Peak Oil Review - May 2

 A weekly roundup of peak oil news including: -Quotes of the Week -Oil …

The Debacle at Doha

Sunday, April 17th was the designated moment. The world’s leading oil …

Is Peak Oil Dead and What Does it Mean for Climate Change?   

This session seeks to bring together fossil fuel experts and climate experts …

Peak Oil Review: A Midweek Update - Apr 28

 A midweek update. Oil prices continued to climb this week, capped …

San Francisco Becomes First Major City to Require Solar Panels on New Buildings

San Francisco is one step closer to its goal of transitioning to 100 percent …