Venezuelan President Maduro Approves Agreement on Mutual Investments with Turkiye

Venezuelan President Maduro signed the document “live on air” stating that the approval process in Venezuela of the Agreement on Mutual Promotion and Protection of Investments, signed between his country and Turkiye in Istanbul on July 21, 2023, was completed.

President Nicolas Maduro invited Turkiye’s Ambassador to Caracas Aydan Karamanoglu to his program called “More with Maduro”, which is held weekly and broadcast live on television.

In his speech before signing the approval document, President Maduro said, “First of all, I am about to sign an economic document that will take our relations, investments and trade with the brotherly Republic of Turkiye to a higher level. From here, I convey my greetings to my friend, President Recep Tayyip Erdogan. I am signing the ratification document of the ‘Agreement on Mutual Promotion and Protection of Investments’ signed between the Bolivarian Republic of Venezuela and the Republic of Turkiye.”

Maduro, who signed the document amidst applause and then gave the floor to Ambassador Karamanoglu, said, “It has been signed and approved. Let it be published and implemented. I ask our friend in Venezuela, the Turkish Ambassador, to share with us his views on investment, trade and economic integration in Venezuela and this document.”

“As Turkiye, we stand by Venezuela in every field”

Ambassador Karamanoglu stated that they were “extremely” happy about the signing of the document and said, “As you know, we stand by Venezuela in every field. This agreement will be very important in terms of strengthening the economic relations between our brother countries.”

Talking to Maduro about the economic and commercial relations between the two countries, Karamanoglu said, “We have other events. Just this morning, we held a video conference on fisheries and aquaculture with the participation of more than 30 Turkish and Venezuelan companies. Next week, between 21-22 May, we will be discussing all issues related to our cooperation and brotherhood IV. We will organize the Joint Cooperation Commission Meeting and hold the 2nd Turkish Products Fair in Caracas between 26-28 September. As you can see, we trust the future of Venezuela, we stand by Venezuela.”

The Agreement on Mutual Promotion and Protection of Investments between Turkiye and Venezuela was signed after the bilateral meeting of Venezuelan Foreign Minister Yvan Gil, who visited Istanbul, with Foreign Minister Hakan Fidan on July 21, 2023.

After the domestic law approval process of the agreement in question is completed in Turkiye, the agreement will enter into force with the exchange of notes between the countries.

Source: AA / Prepared by Irem Yildiz

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