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  President Chavez met with UAE Foreign Minister to strengthen bilateral relations    
 

Venezuelan President Hugo Chavez held a meeting last December with United Arab Emirates (UAE) Foreign Minister, Sheik Abdullah bin Zayed Al-Nahyan, at the Miraflores Presidential Palace with the aim to strengthen bilateral relations.
Previous to the encounter, Foreign Minister Al-Nahyan emphasized that they would encourage UAE enterprises to invest in Venezuela.
“In short time, we will multiply economic cooperation between the two countries,” he said.
Similarly, on behalf of the president of the United Arab Emirates, he invited the Venezuelan President to visit that nation.
After a meeting held between Venezuelan Foreign Minister Nicolas Maduro and his UAE counterpart at the seat of the Venezuelan Ministry, there were signed cooperation accords between the two nations.
Maduro expressed they signed an accord to avoid taxation and prevent tax evasion concerning income tax and patrimony, as well as a Memorandum of Understanding on Political Consultations.
Similarly, he explained in the meeting they tackled with matters of investment, partnerships, oil, gas, petrochemistry, with the aim to create a new economic map.


http://www.avn.info.ve/node/33578

 

  Venezuela, United Arab Emirates sign cooperation accords    
 

The governments of Venezuela and the United Arab Emirates signed on Saturday two cooperation accords with the aim to strengthen strategic relations between the two nations.
The information was given by the Venezuelan Foreign Minister, Nicolas Maduro, after a private meeting held with his counterpart from the United Arab Emirates, Sheik Abdullah Bin Zayed Al Nahyan, at the seat of the Venezuelan Foreign Ministry.
Minister Maduro expressed they signed an accord to avoid taxation and prevent tax evasion concerning income tax and patrimony, as well as a Memorandum of Understanding on Political Consultations.
Similarly, he explained in the meeting they tackled with matters of investment, partnerships, oil, gas, petrochemistry, with the aim to create a new economic map.
“In the meeting, we have talked about issues of interests for the two nations. We talked about food production; we want Venezuela to progress in the matter. We tackled about the issue of trade exchange, infrastructure, housing. We are ready to construct together with the Arab Emirates a new stage of relations,” he expressed.
Foreign Minister Maduro described the visit of his counterpart from the United Arab Emirates as a historical visit.
The visit of Minister Zayed Al Nahyan is a historical event since it is the first time a high-ranking authority from the Arab-Persian Gulf comes to Venezuela, outside the commitments of the Organization of Petroleum Exporting Countries (OPEC).


http://www.avn.info.ve/node/33520

 

  UAE-Venezuela trade grows    
 

Deal to avoid double taxation major step in enhancing economic cooperation


• By Binsal Abdul Kader, Staff Reporter - Gulf News
• Published: 00:00 January 3, 2011


Abu Dhabi: Trade between Venezuela and the UAE has increased, despite the global recession, the Venezuelan Ambassador to the UAE told Gulf News.
Exports from Venezuela to the UAE increased by 13.30 per cent in 2009 compared to a year earlier, Lenin Bandres Herrera said in an interview.
Figures for 2010 have not been compiled yet, he added.
"Although the economic meltdown had a minor effect last year, we did not find any major impact," Herrera said.
Ever since the UAE and Venezuela opened trade links in 2000, exports from Venezuela to the UAE increased by 60.52 per cent until 2009, the ambassador said.
The balance of trade during 2000-2009 was $39 million (Dh143.13 million) and the balance of trade in 2009 was $6 million (Dh22.02 million), he said.
The recent conclusion of an agreement to avoid double taxation was a major step to enhancing economic cooperation, Herrera said.
The relations between both countries have improved since the recent visit of Shaikh Abdullah Bin Zayed Al Nahyan, the UAE foreign minister, to Venezuela .
The UAE is expected to open an embassy in Caracas soon, the ambassador said.
He said the growing relationship between Latin American nations and Arab nations, especially GCC countries, also gave a fillip to UAE-Venezuela relations.
The Summit of South American-Arab Countries (ASPA), a mechanism for bi-regional cooperation comprising 22 Arab and 12 South American nations made a major positive impact in this regard, he said.
During a recent ASPA summit, Mercosul (a regional block of South American nations) and the Gulf Cooperation Council (GCC) signed a Frame Agreement on Economic Cooperation, whose clauses allow for the possibility of both parties signing a Free Trade Agreement (FTA).
Herrera said the negotiations are progressing on an FTA between Mecosul and the GCC.
Cooperation sought in field of renewable energy
The ambassador said Venezuela is looking for further cooperation with the UAE in the oil and gas industry, aviation, services, finance and investments and renewable energy.
Both countries have been cooperating with each other as members of Opec (Organisation of Petroleum Exporting Countries). The public sector oil companies in both countries are planning to enhance cooperation in the exploration of new oil fields.
Both companies may explore the possibilities of joint investment in oil and gas projects in third countries.
Both countries may reach an agreement to enhance the cooperation in aviation which may result in more flight connectivity between the two countries.
Dubai's DP World has already invested a huge amount of money to operate a port in Venezuela. Since the UAE is importing metals from Venezuela, both countries can cooperate in this sector. Venezuela plans to process the metals and minerals, and the UAE can invest in that industry. "We are looking for innovations in that sector," the ambassador said.
Electricity
Venezuela is planning to exploit renewable energy sources such as wind and solar energy for its remote communities in the Amazon forests and islands, he said.
Out of 28 million population, around two per cent are living in the Amazon forests and 10,000 to 20,000 people are living on islands.
At the moment around 63 per cent of the electricity is generated by hydro power projects and about 35 per cent is from thermal power.
"Only the rest of a few per cent of electricity is generated from renewable sources, which we would like to improve," the ambassador said.
He said Venezuela will seek the UAE's support in that sector. "We will request a proposal from the UAE in this regard," he said

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http://gulfnews.com/business/general/uae-venezuela-trade-grows-1.739974

  Links with Latin America increase    
 

A few years ago, only two Latin American countries had diplomatic missions in the UAE but that number is steadily growing, Venezuelan Ambassador to the UAE told Gulf News.
Only Argentina and Brazil had embassies in Abu Dhabi a few years ago, but at least six more Latin American countries opened their diplomatic missions in the UAE recently, Lenin Bandres Herrera said in an interview.
Dominican Republic, Chile and Venezuela opened embassies in Abu Dhabi, and Mexico, Panama and Uruguay opened consulates in Dubai in recent years. There are reports that more Latin American countries are planning to open diplomatic missions in the UAE.
He explained the new trend as growing importance of the UAE in political, economic and trade segments in international and regional arenas.
The UAE's role in international issues like climate change is notable and hosting International Renewable Energy Agency (Irena) has strengthened that role, Herrera said.
As an oil producing country with strong economy, it is a prominent trading partner of many countries, he pointed out. Its role in regional matters like GCC, Palestine and Iraq are also very important, the diplomat said.
Moreover, for Latin American countries, geographically the UAE acts as a gateway to the Middle East , North Africa and Asia, the Ambassador explained.
Venezuela opened its embassy in Abu Dhabi in 2007 with a charge d'affaires. An ambassador was appointed in 2009.
With the recent visit of Shaikh Abdullah Bin Zayed Al Nahyan, the UAE Foreign Minister, to Venezuela bilateral relations have reached a new height, Herrera said.
Both countries have signed two agreements, he said. The first one is on political consultations and the second one is on avoidance of double taxation, the ambassador said.
The UAE has invited President Hugo Chavez to visit the country and Venezuela is working it out, he said.
The cultural cooperation is also improving, he said.


Residents: Venezuela community
About 650 Venezuelans are living in the UAE, almost equally distributed in Dubai and Abu Dhabi. Most of them are working as engineers and consultants in the oil and gas industry. Others work as pilots and stewards in aviation sector. Women often participate in the activities of an association of Latin American women.
UAE: High profile
- International player in climate change, especially in Irena(International Renewable Energy Agency)
- Regional player in GCC, Palestine and Iraq matters.
- Oil-producing ,strong economy and a trade hub
- Acts as a gateway to Middle East, North Africa and Asia.


http://gulfnews.com/news/gulf/uae/general/links-with-latin-america-increase-1.739396


 

 
 

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