Chinese President XI Jingping (left) and President Nicolas Maduro (right) at Miraflores Palace in 2014. Photo: J. Silva / Reuters.
Caracas, March 20, 2022 (OrinocoTribune.com)—Venezuela’s foreign affairs minister reported yesterday that he reviewed Venezuela’s bilateral agenda with China, alongside the ambassador of the Asian giant, and both countries reiterated a mutual commitment to strengthening their strategic alliance.
Orinoco Tribune had access to credible sources mentioning an agreement between the Chinese and the Venezuelan government through which China will open a new $5 billion line of credit, allowing Venezuela to boost its economic recovery strategy, which has yielded micro- and macro-economic improvements since 2021.
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Through a message published on his Twitter account, Venezuelan Foreign Minister FĂ©lix Plasencia announced that his meeting with Chinese Ambassador Li Baorong was also an opportunity to “share information on the world situation.”
“During the meeting we took the opportunity to confirm our shared rejection of the imposition of unilateral coercive measures and our multilateral commitment to defend international law and the principles of the community of nations,” the Venezuelan Foreign Minister wrote in a second tweet.
A fin de revisar los asuntos de la agenda bilateral que profundizan la alianza estratĂ©gica entre Caracas y Beijing, y compartir informaciĂłn sobre la coyuntura mundial, recibimos en CancillerĂa al Embajador de la RepĂşblica Popular China ante el Gobierno Nacional, Li Baorong. pic.twitter.com/naEVaKJTzH
— Felix Plasencia (@plasenciafelixr) March 19, 2022
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The reports on the new line of credit are yet to be confirmed by Venezuelan or Chinese officials, but credible sources spoke of the economic development as a done deal.
The Asian giant and the Caribbean country, both subject to US unilateral measures, have developed a strategic alliance over the last two decades, since former President Hugo Chavez took power. China has repeatedly confirmed its support for Venezuela, rejecting coup plans promoted by Washington and several of its regional allies against Caracas.
Nicolás Maduro’s administration has also strengthened bilateral economic, military, and diplomatic ties with China, which it refers to as its “dear older sister.” Venezuela has become a reliable oil supplier for China even in the middle of illegal US and Europeans sanctions.
Featured image: Chinese President XI Jingping (left) and President Nicolás Maduro (right) at Miraflores Palace in 2014. Photo: J. Silva/Reuters.
Special for Orinoco Tribune by staff
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