Venezuelan Oil Industry’s Recovery to Facilitate Social Investment: FM Gil


He welcomed Latin American authorities for the ALBA-TCP Development Cooperation Agency meeting.

On Wednesday, Venezuelan Foreign Affairs Minister Yvan Gil highlighted his country’s progress in recovering its economy and oil industry.


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“Sooner rather than later, the plan to recover the production and export capacity of the oil industry will allow us to regain our investment capacity for social development,” he said.

“We have experience with a model of integration. And that gives us an advantage,” Gil stated at the Cultural Big House Caracas, where the meeting of the Development Cooperation Agency of the Bolivarian Alliance for the Peoples of Our America-People’s Trade Treaty (ALBA-TCP) was taking place.

At that place, Gil welcomed ambassadors and other prominent authorities from Latin America and the Caribbean for the ALBA-TCP Development Cooperation Agency meeting.

#Internacional || Alba-TCP define ruta para crear Agencia de Cooperación para el Desarrollo

El secretario ejecutivo del Alba-TCP, Jorge Arreaza, anunció que la creación de esta agencia será primordial para la liberación de los pueblos y para el impulso de la integración y la…

— Agencia Venezolana de Noticias (@avnve) July 3, 2024

The text reads, “ALBA-TCP defines route to create Development Cooperation Agency. ALBA-TCP Secretary Jorge Arreaza announced that the creation of this agency will be essential to free the people and promote integration and humanitarian aid in an effective and direct manner.”

“We trust that this meeting will give us the opportunity to advance in significant investment and development projects, based on the complementarity and solidarity that characterize our peoples,” he said.

“Over the years, our peoples have been the true protagonists, creators, and leaders of development projects, demonstrating an example of struggle and determination in the pursuit of regional prosperity and integration,” Gil stressed.

“Today, first of all, we would like to vindicate ALBA-TCP as the regional political space that has advanced the most in the field of development cooperation, compared to any global experience,” the Venezuelan diplomat said, expressing his confidence in the agency’s ability to attract resources from major international actors such as China, Russia, and Turkey.

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— teleSUR English (@telesurenglish) July 2, 2024

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