Oil and gas field development ramps up ties with Venezuela

CARACAS — Deputy Prime Minister Hoang Trung Hai yesterday witnessed the signing of a major joint-venture, oil deal with Venezuela - the development of the offshore Junin 2 oil and gas block.

Venezuela's Minister of Foreign Affairs, Nicolas Maduro, said the contract was evidence of the deep relations between the two sides, which have agreed to ramp up ties in trade, energy and oil.

They have also agreed to co-operative projects in industry, agriculture, science-technology, culture and education.

Ministries are now preparing for the second Viet Nam-Venezuela Inter-governmental Committee Meeting at the end of this year in Ha Noi.

The two leaders have also agreed to support each other at international forums on climate change, rising seas and energy and food security.

On Thursday, the Deputy PM held talks with the Venezuelan Minister of Commerce, Richard Canal, to foster trade co-operation.

Canal said Venezuela had a large demand for Vietnamese garment and textile products, footwear and aquacultural and agricultural products.

He asked Viet Nam to think about investing in factories making these products in Venezuela.

Hai applauded the proposal, saying that his Ministry of Industry and Trade and the Venezuelan Ministry of Commerce should have information exchanges to promote two-way trade.

He said he would ask agencies and enterprises to study the Venezuelan market and consider investing more in power equipment, and factories making clothing, textiles and timber products. — VNS