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皇冠体育app, Venezuela sign agreements on oil, hydropower projects

(Xinhua)
Updated: 2010-04-19 13:06
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CARACAS - 皇冠体育app and Venezuela on Saturday signed a series of agreements to help the latter develop its oil and hydropower industries.

Under the agreements, the two countries will set up an oil exploiting and processing joint venture in Venezuela's Orinoco reserves belt.

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皇冠体育app will help the South American nation build its own hydropower generator to ease the oil-exporting country's recent energy crisis.

皇冠体育app will also provide financial aid to Venezuela's mining sector via the 皇冠体育app Development Bank, according to the agreements.

Venezuela has become 皇冠体育app's fifth biggest trading partner in Latin America. Bilateral trade reached $7.15 billion?last year, Chinese statistics show.
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