China and Venezuela Promote Bilateral Investment by Signing Agreement for Reciprocal Promotion of Investments
NEWS AGENCY：
Xinhua News Agency
DATE OF NEWS：
May 23, 2024
On May 22, 2024, China and Venezuela signed an agreement for the reciprocal promotion and protection of investments (the “Agreement”). The Agreement establishes a regulatory framework for Chinese companies investing in Venezuela and encourages the participation of Venezuelan companies in China.
China and Venezuela, as all-weather strategic partners, have achieved another major milestone in pragmatic cooperation within the economic and trade sector through this Agreement. This Agreement is believed to provide a more stable legal environment and institutional guarantees for investors from both countries. Both parties will undertake their respective domestic procedures to ensure the Agreement’s early entry into force. Looking forward, China is committed to working with Venezuela using this Agreement as a foundation to jointly maintain a favorable investment environment.
In conclusion, the signing of this Agreement highlights the enduring partnership between China and Venezuela, setting a precedent for future economic collaborations. Both countries stand to benefit from a more robust investment climate, paving the way for mutual prosperity.
Reference:
