Reply #28: US$3 billion Sino-Venezuelan trade boost to reduce United States' strangle [View All]

US$3 billion Sino-Venezuelan trade boost to reduce United States' stranglehold

http://www.vheadline.com/readnews.asp?id=24081

Venezuela expects that freshly-signed oil and gas accords will skyrocket commercial relations with the Chinese government to around the equivalent of US$3 billion in 2005 in a decisive strategy to reduce the United States' stranglehold on Venezuela's economic and political life, currently as its principal export market for crude oil exports.

Speaking on his return from a 5-day visit to China, President Hugo Chavez Frias told reporters that Venezuela has "great expectations" as a result of the top-level visit.

Agreements have been signed which will allow Chinese companies to explore oil, set up oil refineries and produce natural gas in Venezuela ... China has already expressed intent to invest in 15 oil fields in eastern Venezuela to the equivalent of US$350 million and a further $60 million in natural gas. Venezuela will sell fuel oil to China for $250 million in 2005 as well.

Faced with energy supply shortages which have seriously affected its economic development, the Chinese government has expressed its willingness to negotiate new oil & gas supplies at the same time as Venezuela is seeking out alternative customers in a strategic moved to to reduce its dependence on sales of crude oil to the United States which persists in unwarranted interference in Venezuela's domestic political and economic affairs to the extent of funding opposition violence and an April 2002 coup d'etat which saw the President replaced for just two days by a Washington puppet dictator who subsequently fled to Colombia.

Chavez Frias has also announced that Venezuela will also buy a telecommunications satellite from China which is scheduled to be in orbit within a year to boost Venezuela's telecommunications into the 21st century and give it full sovereignty in telecommunications arena away from USA domination.

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