China and Venezuela sign 12 deals

China and Venezuela sign 12 deals

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The President of China Xi Jinping and the Venezuelan President Nicolas Maduro came to several agreements during his first trip to China on September 22, 2013, from a multibillion-dollar oil deals to agricultural deals. The agreements were signed on Sunday, September 22, 2013 by companies and government agencies from the two countries, as the Chinese President Xi Jinping hosted his Venezuelan counterpart Maduro for a state visit in Beijing.

Venezuela

The meeting was the first for the two presidents, after they both took the office in 2013. Analysts said that the meeting went well and it represented a smooth transition of close ties between China and Venezuela. A warm welcome ceremony was organized for Maduro and after the initial ceremony, Xi told Maduro that his visit to China will promote the two countries’ relations to new heights.

The aim of Maduro’s trip to China was to consolidate and further develop strategic partnership between China and Venezuela. Maduro stated that the development of China was also beneficial for Venezuela. On Sunday, September 22, 2013, the meeting witnessed the signing of 12 cooperation agreements on education, energy, construction and agriculture.

So far, Venezuela also made an agreement on a $5 billion line of credit with China Development Bank for social development. Moreover, Venezuela will also be receiving funding from Chinese banks for mining survey around the country and struck a deal with China’s CITIC Group to continue with gold mining projects.

Photo Credits: Xinhuanet