Monday, August 21, 2006

Bilateral Relations: Chavez says China will boost investment in Venezuela

Preparing for his trip to China, Venezuelan President Hugo Chavez said China will boost investment in Venezuela under a series of accords covering oil exploration, telecommunications, railways and other industries.

During his weekly TV and radio program called, Hello President, the man the U.S loves to hate said, "China's investments in Venezuela are increasing."

He went on to say China will co-operate with Venezuela's state oil company, Petroleos de Venezuela SA, on a project in the Orinoco River basin and also help explore for oil offshore.