Venezuela strengthens ties with Portugal

Thursday, January 11, 2018

Venezuela and Portugal have announced a series of cooperation agreements in the areas of oil and gas, electric power, infrastructure, education, science, health and food.

Some 22 accords were signed following talks between Venezuelan President Nicolás Maduro and Portuguese foreign minister Augusto Santos Silva in Caracas, Venezuela's state media reported.

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Venezuelan foreign minister Jorge Arreaza said the deals were part of a wider plan to kickstart economic activity amid a devastating recession.

"There are important investments which will allow Venezuela to begin a period of economic reactivation," Arreaza said.

Meanwhile, Venezuelan oil officials met with counterparts from Chinese company CNPC on Tuesday to discuss efforts to increase hydrocarbon production in the South American country.

Venezuela's state-owned oil producer PDVSA said the meeting concerned projects belonging to the Petrosinovensa joint venture.