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Venezuela is China’s fourth largest trading partner in Latin America.
And the two countries are committed to even closer trade ties; they signed a number of deals on Sunday in Beijing, covering energy, agriculture, mining and finance.
Venezuelan President Nicolas Maduro and Chinese Vice Premier Zhang Gaoli vowed to deepen trade and cooperation between the two countries.
Statistics show 15 percent of Venezuela’s exports came to the Chinese market last year, and 17 percent of its imports came from China.
The trade volume between the two countries increased 65 fold over the past dozen years, to 23 billion US dollars in 2012 from 350 million dollars in 2000.
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