Venezuelan Vice President Delcy Rodriguez during her visit to the BRICS Bank (New Development Bank) in Shangai. Photo: X/@NDB_int.
In order to strengthen the exchange of experiences in financial fields between China and Venezuela, Venezuela’s Vice President Delcy Rodriguez visited the Shanghai International Energy Exchange (INE).
Rodriguez’s delegation also included the Minister of Petroleum and President of PDVSA Pedro Tellechea, Ambassador to China Giuseppe Yofreda, and PSUV deputy to the National Assembly, Nicolas Maduro Guerra.
During the tour, representatives of the Shanghai International Energy Exchange explained to the Venezuelan authorities, through a photographic exhibition and a compilation of newspapers, the behavior of the stock market of China and the Shanghai Stock Exchange in order to share their experiences in this areas, which stands out as one of future markets options.
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The International Energy Exchange allows hedging oil price risks and establishing an Asian crude oil pricing system.
The exchange was registered in China’s pilot free trade zone (Shanghai) on November 6, 2013. It operates the listing, clearing, settlement, and delivery of futures, options, and other derivatives. It formulates trading rules, implements public self-regulation, market information and provides technology services, a venue, and facilities for direct participation of foreign traders and brokers. Important meetings in development with senior executives of the international energy exchange and Venezuela took place in order to learn about the variation in the Shanghai futures market in the energy sector.
BRICS Bank visit
Also on Wednesday morning, Vice President Rodríguez visited the headquarters of the New Development Bank, also known as the BRICS Bank, as part of her official visit to China.
According to a report by Venezolana de Televisión (VTV), Rodriguez was received by the institution’s Senior Advisor for Economic Affairs Alessandro Teixera and the bank’s President Dilma Rousseff.
Later, during an extended meeting with the Venezuelan delegation, the bank authorities discussed the impact of the BRICS Bank as well as the interest of several nations in joining the organization.
Featured image:
(RedRadioVE) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/JRE/
