Is the China-Venezuela commercial agreement closer to an end?

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The interim government of Venezuela was emphatic in defending and preserving economic agreements with the Asian giant, especially the commercialization of oil

Is the China-Venezuela commercial agreement closer to an end?

Step by step the interim government of Juan Guaidó is gaining recognition among the world powers that signed energy and mining agreements with the autocrat leader Nicolás Maduro, including his biggest ally: China, all aimed at preserving the million-dollar alliances signed last September with Maduro before a virtual fall of the 'Chavista' regime.

Leer en español: ¿Tiembla el acuerdo económico China-Venezuela?

The commission sent by the Acting President of Venezuela reached out to the Asian giant promising to follow the bilateral agreements and confirmed that diplomatic contacts with the Chinese in Washington would continue.

"We would like to go in the same direction with all the parties, facilitate peace talks and make sure that the efforts to create adequate conditions for the proper resolution of the matter. China will continue to uphold the principles of equality, mutual benefit and common prosperity to improve our cooperation and communication with Venezuela in all areas, "Geng Shuag, spokesman for the Chinese Foreign Ministry, told El Nacional newspaper.

In the midst of desperation on the part of the United States, because Maduro left power to achieve oil reserves, the Donald Trump government came out on top of the most recent sanction with which he sought to block all imports of oil from the South American country.

Also read: The Venezuelan gold route: the wild card of Maduro's government

Despite the US closure, Venezuelans were favored by the increase in the price of a barrel in China, since the state PetroChina Co. is selling the South American oil Merey at a premium of about $ 5 against the West Texas Intermediate, this according to a report published by Bloomberg.

The concern of the Asians for their economic interests signed with Maduro focuses on the commercial projects they have in Venezuela and the debt amounting to 20 billion dollars that Caracas has with Beijing.

Advancing a business agenda

The statements made the previous week by Guiadó to the South China Morning Post became an incentive for Asians, so the bilateral meeting was speeded up. On that occasion, the Acting President said that "China's support will be significant to boost the economy of our country and its future development."

He added that China "is a fundamental global player with whom we would like to relaunch our relationship based on mutual respect and cooperation."

With this approach between China and Venezuela before the possible change of direction that the left government brings in case of assuming Guaidó and the winner in future elections, the Chinese would give a low blow to the Trump government in the economic battle that they have crossed in the last moment.

However, after meeting this meeting, some media reported that everything was about 'false news' launched to the network by The Wall Street Journal and that the Government of China came out to deny the talks. For now, the truth is that Russia, the United States, and the Asian giant are 'worried' about the political future of the South American country.


LatinAmerican Post | Jorge Hernández

Translated from "¿Tiembla el acuerdo económico China-Venezuela?"

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