Venezuela and Russia sign Strategic Partnership Treaty to strengthen bilateral cooperation
President Nicolas Maduro signed the Law on the Treaty of Strategic Partnership and Cooperation with the Russian Federation during a high-level meeting with the Russian ambassador to Venezuela, Sergei Melik-Bagdasarov.
After the unanimous approval of the National Assembly, the Venezuelan head of state stressed the importance of the agreement as a basis for the next decade of collaboration.
“I thank the National Assembly for its debate and this treaty approved on President Vladimir Putin’s birthday,” Maduro said, after a meeting with Mélik-Bagdasarov at the Miraflores Palace.
The treaty, which is valid for 10 years and automatically renewable for five-year periods, establishes a framework for broad cooperation in strategic sectors and aims to strengthen the institutional architecture of the partnership between Venezuela and Russia.
Among its main priorities are:
The creation of a financial infrastructure to facilitate trade.
The promotion of joint investments in key sectors such as energy, gas and mining.
Greater coordination in multilateral forums.
According to the source, the ratification of the treaty marks a new stage in bilateral relations, focusing on mutual development, technological cooperation and sustainable resource management
Author: HGV
Source: BRICS
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