Perfect complementarity exists between India and Venezuela to work in energy sector: MEA

Acting President of Venezuela, Delcy Rodriguez on Thursday held delegation-level talks with Prime Minister Narendra Modi in New Delhi, followed by a working lunch.

Amid the West Asia crisis, the two countries discussed energy security and explored ways to strengthen bilateral cooperation.

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In a media briefing, MEA Secretary (East) Rudrendra Tandon said that Venezuela has emerged as the third largest supplier of energy products this month and the discussions focused on forging an energy partnership.

Tondon said that Venezuela sees India as a stable demander for years to come, stating that “there exists a perfect complementarity for India and Venezuela to work in the energy sector, both upstream and downstream.”

The discussions, he said, also went into broadening the economic partnership to other areas.

Tandon described Venezuela as a “large country, resource-rich” that is now showing signs of moving toward a path of sustained growth, creating opportunities across several sectors.

The MEA Secretary said that is “huge opportunity not only in the energy sector but also in mining, animal husbandry, transportation, agricultural equipment, automotive sector and pharma.”

The discussions, he added, focused on how Indian companies could successfully enter these markets and build new partnerships.

Earlier today, Prime Minister Modi and Venezuela’s Acting President Delcy Rodriguez held wide-ranging discussions on several issues of mutual interesrs, reaffirming their commitment towards advancing the interests of the Global South.

The leaders reviewed the full spectrum of bilateral relations and explored new avenues of cooperation in energy, trade, investment, healthcare, automobiles among others.

They also exchanged vies on on global and regional issues of mutual interest.