Venezuela, China Boost Trade

Venezuela, China Boost TradeCaracas, Jun 17. -The governments of Venezuela and China opened on Thursday the Third Binational Industrial and Commercial Exhibit aimed at increasing trade between the two countries, which exceeded $10 million USD in 2010.

Running through Sunday, June 19, the event shows samples of agricultural machinery, cars, spare parts, electrical installations, computers, construction equipment and materials, light industry goods and technology for several sectors.

Trade Minister Edmee Betancourt said that the fair, inaugurated at Fort Tiuna Military Club, is a bright opportunity to strengthen the Caracas-Beijing strategic alliance, in line with the will of both governments.

"From this fair we hope to continue contributing to strengthen our relations, leading to mutual socio-economic development and the consolidation of a multipolar world," she said.

In her welcoming speech, Betancourt recalled that in 1999, when Hugo Chavez assumed power, binational links were below $200 million USD and today China is Venezuela's second economic partner and its main ally in the field of investment.

Ziu Zhiping, from China's Trade Ministry, confirmed the presence here of 60 Chinese firms exhibiting modern technology in transport, informatics and construction.

"This is a new platform to boost relations," said the visitor.

The inauguration of the fair was also attended by Vice Presidents Jorge Giordani and Ricardo Menendez, as well as Chinese Ambassador to Caracas Zhao Rongxiang. (Prensa Latina)