Cairo – Venezuela looks to diversify its economic activity to transition from a mostly oil-producing country to an agricultural, industrial and tourist country, with a new economic framework. These measures aim to reduce the negative effects of the economic embargo that was imposed on it and attract foreign investors.
Talking to Egyptians earlier this week, Venezuela’s ambassador to Cairo, Wilmer Barrientos Fernández (pictured, at the pulpit), said the time is right to discuss Venezuela’s economic rebirth, comparative and competitive advantages, economic potential and diversification, and strengths. The regional director of the office the Arab Brazilian Chamber of Commerce (ABCC) in Cairo, Michael Gamal, participated.
The ambassador stressed the rich and strategic natural resources and energy sources of his country, the development of the Orinoco oil belt and its exploration area, particularly because Venezuela has large oil and gas reserves, as well as a large-scale mining potential.
The ambassador highlighted Venezuela’s water resources and potential in both agriculture and livestock, as well as tourist opportunities. The country wants to show the world the tourist benefits of Venezuela as a country that features numerous logistics facilities through seven new ports and ten international airports. According to the diplomat, Venezuela also has a solid finance sector that ensures international standards of transfer of resources in strong currency, and other attributes.
In the meeting Barrientos highlighted the role played by the ABCC in fostering the economic and social relations between the Arab countries and Brazil. The Embassy of Venezuela looks to use the expertise of the Chamber to develop the relations between Venezuela and the Arab countries, particularly Egypt. He mentioned actions of the office like successfuly organizing visits from Latin American ambassadors to Egyptian fertilizer companies in cooperation with the Ministry of Foreign Affairs of Egypt.
Translated by Georgette Merkhan & Guilherme Miranda
