VP: Venezuela may become China's "entrance gate" to Mercosur
Venezuelan Vice-President Jorge Arreaza met with his Chinese counterpart Li Yuanchao and the chairman of China Development Bank Hu Haibang. Arreaza said Venezuela-China relation are an example for the whole world, particularly for the Americas
Arreaza met with Chinese Vice-President Li Yuanchao and the chairman of China Development Bank (China's main investment arm abroad), Hu Haibang, EFE reported.
The Venezuelan vice-president, who was welcomed with a solemn military ceremony, stated that China-Venezuela relationship is "a model bilateral relation for many countries around the world and particularly the Americas."
Arreaza is scheduled to meet Chinese President Xi Jinping on Friday.
For his part, the chairman of China Development Bank underscored that the financial institution had lent over USD 40 billion to Venezuela over the last six years.
He also stressed that in the first half of 2013, Venezuela received some USD 14.7 billion.
"Venezuela is one the most significant countries for our international cooperation," the official stated.
President Nicolás Maduro is not only the heir to the throne, but also to an economic crisis which demanded urgent measures to rectify the course. The crisis showed up in two aspects: a 50% inflation estimate, and shortage of staples ranging between 70% and 98%. These issues might hit the President's poor popularity; considering his feeble electoral victory of 1% over his challenger.