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Maduro aims to boost oil prices - on China/OPEC tour

Featured The president Nicolas Madure departed Venezuelan for China on Sunday | Photo: teleSUR The president Nicolas Madure departed Venezuelan for China on Sunday | Photo: teleSUR
CARACAS, January 5, 2015 - Venezuelan president, Nicolas Maduro on Sunday said he would begin a world tour to try to stem the impact of declining oil prices on his country’s economy. He will also attend the meeting between China and representatives of the Commonwealth of Independent States Latin American and Caribbean States (CELAC).

In a meeting with governors and Venezuelan ministers, Maduro said he will go to China to deal with his counterpart, Xi Jinping, issues of economic interest, mainly."Also I will visit several countries of the Organization of Petroleum Exporting Countries (OPEC) to develop new strategic partnerships to mitigate the decline in prices in the export of oil ".

"We will develop various projects, economic, technological, political…and I have been invited to participate in the ministerial meeting of the Community of Latin American and Caribbean States CELAC-China.

In December, China announced that On January 8, and 9 it will host the first ministerial meeting with the Community of Latin American and Caribbean States (CELAC), a forum in which the Asian nation expects to open new areas of cooperation to strengthen economy region. 

Before he left Venezuela Mr Maduro announced a number of new mechanisms aimed at addressing the country's economic crisis.

Venezuela gets most of its foreign currency from oil exports and is estimated to have the largest oil reserves in the world.

He said he would create a strategic reserve, appoint a new board to run the organisation that manages currency exchange controls, and create new agencies to manage the distribution of commodities.

President Maduro has said his country is suffering the consequences of an economic war launched by US President Barack Obama "to destroy" the oil producers' cartel, Opec.

He has also accused the US of flooding the markets with oil as part of an economic war against Russia.

The Venezuelan opposition blames the country's economic crisis and shortages of many staples, such as corn oil and milk, on the socialist policies of Mr Maduro and his late predecessor, Hugo Chavez.

Last modified onMonday, 05 January 2015 06:44