Venezuela and China Sign Three New Bilateral Economic Cooperation Agreements

During the International Seminar on Economic Development 2024 Venezuela and China signed three bilateral agreements strategic cooperation, to strengthen economic relations between the South American and the Asian nations.

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The Executive indicated, in a press release, that these new agreements, signed in Caracas by representatives of both nations, also seek to promote the exchange of knowledge based on their respective experiences, for mutual benefit.

TV channel Venezolana de Televisión (VTV) pointed out that they have the objective, among others, to “promote the exchange of knowledge and cooperation in economic policies to strengthen capacities”, as well as “to promote technological innovation and the development of a knowledge-based economy, fostering creativity and collaboration in innovation projects”.

The first of these agreements with the China Development Institute, which aims to expand knowledge exchange and cooperation in economic policies to promote the sustainable development of the nation.

#ReporteVTV????️| Venezuela y China firman acuerdos para el crecimiento económico y tecnológico en pro del bienestar social bilateral del ambas naciones.

Reportó: Javienny Chirinos#DeLaManoConMaduro pic.twitter.com/HwMMdGxHMa

— VTV CANAL 8 (@VTVcanal8) June 21, 2024

The second signature is with the National Institute of Economic Research, which focuses on joint cooperation and the development of innovative strategies for the benefit of both countries, taking into account the experiences of each party in this area.

The latest agreement between Venezuela and the Open Innovation Laboratory of Shenzhen, is aimed at technological innovation and a knowledge-based economy to boost creativity and collaboration in cutting-edge projects.

In recent months, Venezuela has announced several trade agreements with China, the most recent one for the promotion and mutual protection of investments that contemplates an investment regulatory framework for Chinese companies in the Caribbean country, as well as the participation of Venezuelan companies in the Asian giant.

The Seminar, lead by the executive vice-president Delcy Rodríguez, seeks the analysis of the complexities that accompany global economic growth and its resilience to illegal sanctions imposed by the United States (US).