News from Commerce Minister Musa in Venezuela. Last Minute WORLD, ECONOMY, CURRENT, TOURISM, TURKEY, news headlines and events

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Trade Minister Mehmet Mus is on an official visit to Venezuela with a delegation of about a hundred people, consisting of businessmen and officials. It was reported that the purpose of the visit was to increase the volume of bilateral trade, which reached $1.1 billion last year, to the planned $3 billion as soon as possible.

According to unofficial data, the first high-level visit of the year to increase trade between Turkey and Venezuela, which increased by more than 30 percent last year and exceeded $1.1 billion, was the Minister of Commerce, who arrived in Caracas with a delegation of about a hundred businessmen. bureaucrats and representatives of institutions Mehmet came from Mush.

Trade Minister Antonio Morales and Deputy Minister of Foreign Trade and Investment Promotion Johan Alvarez welcomed Minister Mus at the airport.

During the visit, it was noted that the technical issues needed to facilitate the implementation of some signed agreements will be discussed at the moment of reaching the $3 billion bilateral trade volume target, which was set after the visit of Venezuelan President Nicolas Maduro to Turkey last time. June.

The delegation, which includes about seventy representatives of private companies from Turkey, is expected to hold one-on-one meetings with about 150 Venezuelan companies as part of a Turkey-Venezuela multi-sectoral trade mission that will bring together the country’s largest employers. organization, Fedekaras. Minister Moush and Venezuelan Vice President Delcy Rodriguez will also reportedly attend the event on Monday.

It is said that businessmen from various sectors such as food, beverage, health care, cosmetics, textiles, carpets, chemicals, automotive, construction, furniture transportation and metallurgy, as well as education and service industry representatives will hold a total of about a thousand meetings with representatives private sector and state economic enterprises in two days.

“The purpose of this visit is to strengthen the strategic alliance between the two countries, increase bilateral trade and encourage the implementation of signed agreements,” the Venezuelan Foreign Ministry said in a statement.

Trade volume increased 8 times in 3 years

Bilateral trade volume, which stood at about $150 million in 2019, topped $850 million in 2021 and $1.1 billion last year after an agreement that granted mutual customs benefits to thousands of goods in 2020.

Venezuela and Turkey have signed cooperation agreements in more than 40 areas, such as defense, maritime and air transportation, trade, finance, education, tourism, agriculture, science and technology.

Venezuela, which imported about $350 million from Turkey last year, is also said to be exporting $800 million to Turkey, one of its most important trading partners.

While food products such as grains, flour, starch, milling products, wheat gluten, cocoa and cocoa products account for 70 percent of the South American country’s imports from Turkey, the most important export item is the scrap trade, which accounts for 84 percent. all exports.

Turkey has announced that it has reduced customs duties on some manufactured goods imported from Venezuela from January 1. If the $3 billion trade target with Venezuela is reached (according to 2022 data), Turkey’s second largest trading partner in Latin America after Brazil will be Venezuela.

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