Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Thailand
Vietnam
Search
Search:
Vietnam and Venezuela set up 200 million dollar joint fund
AFP - Saturday, November 22
CARACAS (AFP) - - Vietnam's president and Venezuelan leader Hugo Chavez signed a deal for a 200-million-dollar joint fund and 15 cooperation projects, during the first visit here by a head of state from the communist nation.
The fund is similar to deals Venezuela has with allies China and Iran and will finance joint projects, President Chavez said after meeting with Nguyen Minh Triet, at the end of a two-day visit, at his Miraflores Palace late Thursday.
"We won't lack resources. While right now there's a worldwide crisis of funds, a credit crisis, we're creating funds and banks and finance mechanisms," Chavez said.
A first joint project using the fund -- for an energy-saving light bulb factory due to produce 74 million bulbs per year -- was already under construction in western Venezuela, Chavez said.
Triet and Chavez also signed 15 cooperation deals, in fields from technology to tourism and energy, including the setting up of a joint venture to develop existing reserves in eastern Venezuela's oil-rich Orinoco basin.
Since Chavez toured Vietnam in 2006, his government has stepped up bilateral relations with the Southeast Asian nation, whose Communist Party General Secretary Nong Duc Manh visited Caracas early last year.
State-run energy companies Petroleos de Venezuela and PetroVietnam have announced a number of joint projects since the Chavez visit, and PetroVietnam has a concession in Orinoco.
Anti-US Chavez underlined his country's growing economic ties, not only with Vietnam but also with China and Russia -- whose president, Dmitry Medvedev, is due to visit Venezuela next week along with Russian warships.
"A new international financial system will be created. It won't come from Washington, it's from here, from the south and from our allied countries like Russia, China -- countries like us, Vietnam, Venezuela," Chavez added.
Triet was due to travel to Lima, Peru, from Venezuela, for the Asia-Pacific Economic Cooperation (APEC) summit at the weekend.
During his historic visit, Triet added his support to the leftist Venezuelan leader ahead of weekend elections seen as a referendum on Chavez's socialist policies.
"I've seen with my own eyes this country and the revolutionary process going on today," Triet said during a joint address broadcast across national TV stations. "Socialism will surely win out in our countries."
Vietnam and Venezuela set up diplomatic ties in 1989, but bilateral trade reached only 11.7 million dollars last year, according to the Vietnam News Agency.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Asia Pacific
UN panel urges China apology to 1989 protestersAP - 2 hours 12 minutes ago
Tibetan exiles debate the future of the movementAP - Saturday, November 22
Singapore, China signs MOU on aviation security cooperationChannel NewsAsia - Saturday, November 22
Myanmar court hands comedian 45-year prison termAP - Saturday, November 22
Vietnam and Venezuela set up 200 million dollar joint fundAFP - Saturday, November 22
Enlarge Photo
Vietnam and Venezuela set up 200 million dollar joint fund
Most Popular – Asia Pacific
Viewed
Wall Street plunges again as panic spreads
Is superfood omega-3 keeping its promise?
Oil prices slump under $50 per barrel
World stocks dive as panic spreads
New strain of deadly Ebola virus discovered
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular