Saturday, August 26, 2006

Bilateral Trade: China and Venezuela sign series of agreements

China and Venezuela, have signed a series of agreements including two on expanded energy cooperation.

The agreements, ranging from trade and energy to infrastructure and tourism, were signed after President Hu Jintao met visiting Venezuelan President Hugo Chavez in Beijing.

After being described by Hu, as an "old friend," Chavez said he was pleased with cooperation in the oil sector and pledged to increase exports to China by 50,000 barrels per day in the near future.