Xi welcomes Venezuela to share opportunities of China's development

Chinese President Xi Jinping said in Caracas on Monday that China welcomes Venezuela to share the opportunities brought by his country's development. [Special coverage]

Xi made the remarks when he attended the closing ceremony of the 13th meeting of the China-Venezuela High-Level Joint Commission, together with his Venezuelan counterpart, Nicolas Maduro.

Xi stressed that China is comprehensively deepening reform, expanding opening-up and promoting sustainable and healthy economic development, all of which will provide more space for China-Venezuela cooperation.

"We welcome Venezuela to actively participate in this process and share the opportunities of China's development," said the Chinese president.

China, Xi said, is ready to work with Venezuela to pursue sincere friendship, strengthen practical cooperation and realize mutual benefit and common development.

Xi called on the two countries to firmly grasp opportunities and jointly create a brighter future for bilateral ties.

Hailing the fruitful results of the meeting, Xi noted that the joint commission, as an important intergovernmental cooperation mechanism, has participated in and witnessed the vigorous development of bilateral ties.

Over the past ten years, relevant departments of the two governments conducted top-level design and coordination through this mechanism, said Xi, adding that practical cooperation has become a pillar and highlight of China-Venezuela ties.

China has become Venezuela's second largest trading partner and oil importer, while Venezuela is China's fourth largest trading partner in Latin America.

The volume of bilateral trade in 2013 was 25 times that of 2001. China has provided support for over 220 economic construction and livelihood projects in Venezuela through bilateral financing cooperation, said Xi.

For his part, Maduro hailed Xi's state visit to Venezuela as of historic significance, noting that the visit has achieved fruitful results and upgraded bilateral ties to the new height of comprehensive strategic partnership.

Cooperation between Venezuela and China is based on brotherly friendship, mutual respect, mutual trust and mutual benefit, which has promoted economic and social development of the South American country, the president said.

"Venezuela congratulates China for the remarkable achievements it has scored in the cause of socialism with Chinese characteristics," said Maduro, adding that Venezuela hopes to learn from China's development experiences and strengthen cooperation in various fields and that it welcomes Chinese investment.

Prior to the closing ceremony, the two leaders jointly witnessed the signing of many cooperation documents in such fields as energy, finance, infrastructure construction, mining, agriculture and advanced technology.

These cooperation documents, Xi said, are concrete steps leading to the upgrading of bilateral ties.

Xi is on a state visit to Venezuela, the third leg of his ongoing four-nation Latin America tour, which has taken him to Brazil and Argentina. He is to travel to Cuba later Monday.