Turkey determined to enhance ties with Venezuela: Erdoğan

Cheryl Sanders
December 8, 2018

Maradona, who has gone on record with his support of Maduro's leadership of Venezuela in recent months, once again backed the president after an explosion in Caracas close to an event where the president was giving a speech.

"Turkish investors will continue to develop and strengthen trade and the progress in oil production and refineries, petrochemicals for gold production, in diamonds, coltan, iron aluminum and tourism", said the Venezuelan president.

Maduro said the two countries will build on the economic and diplomatic foundations. "You cannot punish a whole people to resolve political disagreements", he explained.

Last month the USA imposed sanctions on Venezuela's gold sector.


Food and medicine shortages have sparked an exodus of some two million people.

One of the agreements formalizes cooperation between the state-owned oil companies Petróleos de Venezuela S.A. (PDVSA) and the Turkish Petroleum International Company, in addition to an agreement to avoid double taxation and tax evasion.

The United States and several European nations have sanctioned Maduro's administration in an attempt to pressure Venezuela into making a return to democratic ways.

Erdogan and Maduro signed a series of agreements in the areas of mining, commerce and oil.


As a result of inefficient economic policies and failed experiments, that Venezuelan consumers in the end pay a high price, which includes the compulsory government-approved cryptocurrency Petro.

President Erdogan has promised to boost his unlikely and bourgeoning alliance with Venezuelan dictator Nicolas Maduro on the first state visit of a Turkish president to the South American country.

Maduro has repeatedly blamed a US-led economic war for the crisis, saying Washington is plotting to topple his government.

The president also said Venezuela had handed over two schools affiliated with the FETÖ - the group behind the 2016 coup attempt in Turkey - to a Turkish education body. Ties between Turkey and the United States, two North Atlantic Treaty Organisation allies, have also been strained.


Last month, the ruling United Socialist Party of Venezuela's vice president on economic development, Jesus Faria, said Maduro could visit Russian Federation by the end of this year to discuss economic projects.

Other reports by iNewsToday

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