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Venezuela invites Chinese firms to explore natural resources of Arco Minero

Xinhua, March 9, 2016 Adjust font size:

Venezuelan Minister of Oil and Mining Eulogio del Pino said Tuesday that economic cooperation between his country and China has achieved important progress in various sectors.

The minister referred to his trip to China last week, during which the two sides discussed plans in 14 key economic sectors of the South American country.

Some of the plans, including the one to explore natural resources in the Arco Minero (Mining Arch) in southern Venezuela, were "received very well" by Chinese entrepreneurs, he said.

"At this moment, the Arco Minero represents a strategic move for them (Chinese entrepreneurs). They paid great attention to the concept of strategic development zones, such as the Arco Minero or the Orinoco Petroleum Belt," said del Pino.

The minister said he told Chinese companies that the Arco Minero has very rich mineral reserves, inviting them to help explore and extract gold, iron, diamond and aluminum in the region.

The venezuelan side also welcomed China's cooperation in some other important sectors such as industry, pharmaceuticals, export,petrochemicals, tourism and telecommunications. Endi