Venezuela seeks to boost commercial relations with Türkiye

ISTANBUL

Venezuela seeks to increase its commercial relations with Türkiye via new areas of economic cooperation while boosting the bilateral trade volume and further strengthening the strategic partnership between the two countries.

Johann Alvarez, Venezuela's vice minister for Foreign Trade and Investment Promotion, and Daniella Cabello, president of the Venezuelan Export Promotion Agency, told Anadolu that they participated in the international business event MUSIAD Expo 2024 in Istanbul.

Cabello said a Venezuelan delegation of over 40 people attended the event to promote their country’s various products in the Turkish market, such as cocoa beans, coffee, and seafood.

Underlining the importance of events giving a chance to countries to present their products, she said the second Turkish Export Products Expo (Expoferia Türkiye) was held in Caracas in late September.

Cabello mentioned that although Venezuela is an oil-rich country and an economic power, it aims to offer more products to the Turkish market than oil.

Alvarez stated that Venezuela has three major trade and economy-related agreements only with Türkiye, noting that the bilateral trade volume between the two countries reached a historic high of $1 billion according to the most recent data, with an aim to increase this figure to $3 billion in the coming period.

The deputy minister said that Caracas is ready to boost the energy cooperation with Ankara as much as possible, as there has been notable progress made in trade and investments between the two countries, noting that Venezuela’s cooperation areas with other countries include national security.

Highlighting that Ankara is one of the most important international partners for his country and worldwide, he said Türkiye has become a powerful player in the military with the development of unmanned aerial vehicle (UAV) technologies, as he noted that cooperation in this area is an important opportunity to strengthen the ties.

US sanctions on Venezuela

The deputy minister said the US recognized Edmundo Gonzalez as president-elect following the elections in July. Gonzalez was the opposition candidate in Venezuela’s presidential election.

Alvarez said this was an extension of the US’ aggressive policies and it was not the first, as the US recognized the interim president of Venezuela before.

Alvarez highlighted that Venezuela will face the same economic, diplomatic, political, and social challenges no matter who is in the White House so long as the country maintains its determination to be an independent state and that President Nicolas Maduro is working towards ensuring that Venezuela’s prosperity no longer depends on the US foreign policy.

He mentioned that Maduro is implementing new reforms to diversify the country’s economy, reducing oil dependence, and establishing a broader range of exports to build a stronger domestic economy, while working towards ensuring the social rights of Venezuelans and strengthening international relations to move forward despite interventions.

Alvarez said that Venezuela is closing this year with nearly a 100% growth target in its economy and growth estimates for 2025 appear even more positive.

He noted that Venezuela is seeking partnerships with countries to cooperate based on mutual gain, while standing against trade relations that involve plundering, exploitation, and slavery, mentioning that he is thankful for Türkiye’s respect regarding Venezuela’s sovereignty.

*Writing by Emir Yildirim