Venezuela to Become 'Port of Entry' for Turkish Investments

During an official visit to Ankara on Wednesday, Venezuela's President Nicolas Maduro presented his country as a "port of entry" for Turkish investments and tourists in Latin America.

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"It is the time to invest in Venezuela in tourism, mining, industry, logistics, banking, oil, gas, gold, or coal," he said after a meeting with Turkish President Recep Tayyip Erdogan.

Turkish investors will enjoy all the necessary guarantees so that their activities contribute to expanding economic relations between the two countries, the Bolivarian leader stressed after signing three cooperation agreements related to agriculture, tourism, and finance.

"Venezuela can become the port of arrival in Latin America and the Caribbean for Turkish production."

For his part, Erdogan highlighted that the volume of Turkish-Venezuelan trade increased significantly over the last three years, going from US$150 million in 2019 to US$850 million in 2021. He also foresees that the bilateral trade flow will reach US$1 billion by the end of 2022.

Currently, Caracas is one of the few Latin American cities that has a regular connection of seven flights a week with Istanbul. This happens thanks to the Turkish Airlines company, Erdogan recalled and announced that he will make an official visit to Venezuela in July.

Finally, Maduro highlighted the support received by Turkey during the COVID-19 pandemic's most difficult and uncertain moments, which coincided with an "avalanche" of sanctions and invasion threats emanating from Washington and its regional allies.