Chavez Frias: Venezuela and China advance in strategic economic alliance


Speaking to Chinese businessmen and diplomats visiting Venezuela for trade talks, President Hugo Chavez Frias has stated that he wishes to share strategic reserves with China through bilateral oil agreements.

The President says the main gateway of cooperation between the two countries will be based on agricultural production and he has confirmed that Venezuela is ready to subscribe to a special fund to finance agricultural development products between the two countries.

Two weeks ago, a Venezuelan representative had stated that Venezuela's aim is to supply 20% of China's oil needs.

President Chavez Frias maintains that the two countries have made important advances in what he refers to as a "strategic alliance."

Turning to other oil issues, Chavez Frias has confirmed his commitment with Brazil to build a super gas pipeline from the Amazonas State to Rio de Plata (Argentina) and says he would like to see another going from Venezuela through Colombia and into Central American countries.

The President has told the Chinese visitors that the Capitalist model is unsustainable as applied in the USA and other developed countries.