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China, Venezuela to Advance Mutually Beneficial Energy Cooperation
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China focuses on achieving mutual benefits when carrying out economic cooperation with Venezuela, a senior official of the Communist Party of China (CPC) said in Caracas Sunday.


Li Changchun, who flew here for a goodwill visit to Venezuela Sunday afternoon, paid a visit to the office of CNPC America Ltd. in Venezuela immediately after his arrival in Caracas.


After listening to a briefing about the company's operation in Venezuela and in other parts of the world, Li said Chinese companies should precede from the win-win principle of mutual benefits to carry out economic cooperation outside China.


He called for the Chinese companies to help their host countries develop resources, promote employment and develop social welfare. Li especially asked CNPC to elevate the level of cooperation by introducing advanced technology and equipment to Venezuela.


He emphasized that the company should pay special attention to environment protection as it carries out resources development projects in the country.


China National Petroleum Corporation (CNPC) won the contract of tapping oil potential in two separate locations in Venezuela in 1997. Since then, the company has developed close partnership of cooperation with Venezuela, which is estimated to have the second largest oil deposit in the world.


CNPC America Ltd. is an overseas branch that CNPC set up to run its operations in Latin America.


Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee, is the highest ranking Chinese official who visited Venezuela since the last visit by Vice President Zeng Qinghong in 2005.


Sources with the Chinese Embassy said China and Venezuela are to sign several deals on energy and resources development when Li meets with President Hugo Rafael Chavez Frias on Monday.


(Xinhua News Agency March 26, 2007)

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