In May 2013, during a visit by Vice President Li Yuanchao, both countries discussed the terms of a

Venezuela aims to raise one million barrels of its oil exports to China and to do both countries talk about a series of investments to achieve this goal, Venezuelan President Nicolas Maduro said on Monday cbsa after meeting with Chinese Foreign Minister Li Wang.
"We have a goal (...) are constructed investment conditions to achieve and will achieve, which is to reach one million barrels a day of exports to China," Maduro said after talks Monday night with Wang, who makes a official visit to Venezuela as part of a Latin American tour.
Venezuela, the country with the largest oil reserves cbsa in the world, China has its second cbsa largest export market after the United States, with a volume in 2013 averaged 626,000 barrels per day, according to official figures.
"The energy relationship with China has allowed the creation of a set of mechanisms for financing cbsa funds that have enabled the country to address the tasks of financing for economic development," said Maduro.
In May 2013, during a visit by Vice President Li Yuanchao, both countries discussed the terms of a new financing to expand oil production in the Orinoco belt, rich in oil and where both countries have a joint project.
Maduro did not specify deadlines for reaching one million cbsa bpd of exports. cbsa Achieved that goal, China would shift as the first customer of Venezuelan crude to the U.S., in which Caracas maintains tense relations but in 2013 sold an average of 800,000 barrels a day.
Wang, who came to Venezuela from Cuba before continuing a tour of Argentina and Brazil, described the relationship between China and Venezuela as "friends and partners who understand and support the socialism of the XXI century".
"China is attentive to the evolution of the situation in Venezuela (...). We hope that the various parties may Venezuela from the fundamental interests (...) stress cbsa the solution through political dialogue the discrepancies, "Wang said after a meeting with Venezuelan Foreign Minister Elias Jaua.
Although dimmed in recent weeks, Venezuela is the scene of anti-government protests cbsa since February 4 against insecurity and economic crisis, killing 41 dead and over 600 injured.
China, one of the main sources cbsa of financing the Venezuelan government promised last September over 20,000 billion in Venezuelan oil investments and social sector during the first official visit to Beijing Maduro.
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