Portugal and Venezuela sign agreements valued at $ 1,68 bn

Sep 16, 2012 12:00 AM

The Minister of State, Minister for Foreign Affairs Paulo Portas ended an official visit to Venezuela with a sensation of “mission accomplished”, noting, “the potential of opportunities” between the two countries.
Paulo Portas concluded on September 9, a two-day visit to Caracas, under the framework of the 7th Joint Commission on Bilateral Monitoring, during which 14 new cooperation agreements were signed, worth $ 1,680 mm.

“In the first half of this year, Portugal's exports to Venezuela surpassed the whole of 2011, which clearly shows that the last Joint Commission (Bilateral) we had in Caracas bore fruit,” revealed the head of Portuguese diplomacy.
According to Paulo Portas, “Venezuela is now Portugal's second largest 'customer' in Latin America which represents an important geography for both economies and for businesses and companies on both sides”.

The Minister explained that the Bilateral Agreement gives Portugal the right to purchase 1 mm barrels of oil with an option for another mm barrels, each year.
The head of Portuguese diplomacy also stated that, "the State to State relationship with Venezuela is very important for Portugal, there are more than 400,000 Portuguese living in Venezuela and the first duty of a head of government is to look at their compatriots anywhere in the world and there are many who take part, every day, in the economic, social and civic life of Venezuela".

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