Venezuela & Turkiye boost trade deals with $3.1 billion Investments

Venezuelan Foreign Minister Yvan Gil announced on Friday that his country is looking forward to raising the value of trade with Turkiye to $3 billion, Anadolu Agency reported.

During a press conference in Istanbul with his Turkish counterpart Hakan Fidan, Gil highlighted the significant investment and cooperation policies developed by Turkish President Recep Tayyip Erdogan in Latin America.

Gil also noted that Erdogan’s visit to Caracas, the capital of Venezuela, in the coming months would further accelerate the momentum of the agreements between the two countries.

Gil shared that Venezuela sees Turkiye as a rising country and a strong nation under the leadership of President Erdogan.

We view it as a guarantor of peace and development, Gil said, stressing the importance of the bilateral trade volume, which reached $1.2 billion last year, wishing to raise this number to $3 billion, demonstrating the potential for robust economic cooperation.

Turkiye and Venezuela also signed a mutual promotion and protection of investments agreement. The foreign ministers of the two countries discussed the steps to achieve the target of $3 billion in mutual trade.

Turkiye and Venezuela also signed a mutual promotion and protection of investments agreement. The foreign ministers of the two countries discussed the steps to achieve the target of $3 billion in mutual trade.

Meanwhile, Gil stated that Venezuela has strong agricultural and food production sectors, attracting interest from firms in the Middle East, Latin America and Europe.

He stressed that the economic sanctions imposed on Venezuela were illegal, calling for their immediate and unconditional removal, asserting that no state should impose sanctions on another.

According to the Vienna Convention on Diplomatic Relations, if diplomatic ties between two countries are broken off, both sides can choose a third country acceptable to the receiving state as a protecting power.

However, for now the USA is appointing the Swiss government as their diplomatic protecting power in Caracas. In the meanwhile the US regime does not respect Turkey as the Venezuelan protecting power in Washington.

Turkish company Sardes, which was established around January 2018, had been helping Venezuela to export its gold to Turkey until the Latin American state’s assets came under sanctions in November 2018.

The news about alleged gold transfers to Turkey come after a Bank of England decision to deny Venezuela the repatriation of its gold assets worth $1.2 billion without providing any reason for it.

The Bank of England (BoE) has been accused of putting lives at risk after denying a request from Venezuela to release more than £800m from the South American country’s gold reserves currently withheld by the UK.

Caracas sent Minister of Industries and Production Tareck El Aissami, to assess the gold refining facilities and conduct negotiations with his Turkish counterparts in January 2019.

Bloomberg says that the Venezuelan delegation left Turkey without coming to an agreement and will instead try to replicate the refining process at home?

Gold, rather than oil, may now be the crucial commodity to save President Nicolas Maduro’s government, IHS Markit political analyst Diego Moya-Ocampos has told CNBC.

At first Canadian mining companies were running the Venezuela gold business, while Dutch pirates from the Caribbean island of Curacao stole $5 billion in gold annually, shipping the lute with private jets to Willemstad, for the KLM to take over the cargo the Amsterdam.

Middle East Monitor / ABC Flash Point News 2023.