LatinNews Daily - 09 June 2022

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In brief: Venezuela and Turkey boost ties

* Venezuela’s President Nicolás Maduro has travelled to Turkey where he met President Recep Tayyip Erdogan and the two gave a press conference reaffirming bilateral ties. Ahead of the press conference, the two signed various deals relating to both countries’ financial, tourism and agricultural sectors. President Maduro underlined that investors from Turkey would be welcomed and should look no further than Venezuela when assessing where to invest in Latin America and the Caribbean. He added that Turkish businesses would be given all the “legal guarantees” to ensure smooth operations, allowing Venezuela to become an entry point into Latin America and the Caribbean for Turkey’s most important exports. In 2021 bilateral trade between the two countries totaled US$850m, a significant leap from US$150m in 2019 according to official figures from the Turkish government. President Erdogan tweeted that the objective for the future is for bilateral trade to reach US$3bn. 

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