Malaysia–Venezuela relations

Malaysia–Venezuela relations

Malaysia
Venezuela

Malaysia–Venezuela relations are foreign relations between Malaysia and Venezuela. Malaysia has had an embassy in Caracas since 1990,[1] while Venezuela has an embassy in Kuala Lumpur. Diplomatic relations were established 18 December 1986.[1]

Both countries are full members of the Group of 77.

President Hugo Chávez first visited Malaysia in 1999,[2] and visited again in August 2006[3] to discuss investments in Malaysia's palm oil industry and to diversify Venezuela's energy industry. Malaysia promised to support Venezuela's bid for a seat on the UN security council.[4][5] During the trip an agreement on avoiding double taxation was signed.[6]

Economic relations

Chávez proposed in December 2006 that Venezuela would build an oil refinery in Malaysia,[7] and Golden Hope, a Malaysian state-owned palm oil company, agreed with the Venezuelan state oil company to cultivate 40,000 ha of oil palms in Venezuela,[8] while Malaysian company Petronas would start oil exploration in Venezuela.[9] Malaysia also agreed to help Venezuela with city planning.[10]

A Malaysia-Venezuela Business Council was formed in July 2008,[11] partly so that Venezuela could learn from Malaysian experience in poverty reduction.[12] Bilateral trade was only US$6.6 million in 1990, when the countries signed a bilateral trade agreement,[13] US$30.6 million in 1998, when Venezuela set up legal protections for foreign investments,[14] US$19.8 million in 2004,[3] US$39.6 million in 2005,[8] and US$61.68 million in 2007, with only $250,000 being exports from Venezuela.[1] The Venezuelan ambassador to Malaysia proposed in February 2009 that the two countries form a new financial institution for developing countries.[15]

Malaysia held a "Venezuela Week" in July 2006,[16] 2007,[17] and 2008.[18][19]

See also

References

  1. 1 2 3 "Profile". Embassy of Malaysia, Caracas. Archived from the original on 24 April 2009. Retrieved 13 July 2009.
  2. ↑ "Venezuelan president gets red-carpet welcome in Malaysia". Associated Press. 19 October 1999. Retrieved 13 July 2009.
  3. 1 2 "Chavez making second visit here Sunday". Daily Express (Malaysia). 26 August 2006. Retrieved 13 July 2009.
  4. ↑ "Chavez in Malaysia: palm oil, biofuels, geopolitics and ideology". Mongabay. 29 August 2006. Retrieved 13 July 2009.
  5. ↑ Reuters (28 August 2006). "Venezuela gains support of Malaysia in UN bid". The Montreal Gazette. Retrieved 13 July 2009.
  6. ↑ "Malaysia, Venezuela ink pact on avoidance of double taxation". People's Daily (China). 29 August 2006. Retrieved 13 July 2009.
  7. ↑ The Associated Press (18 December 2006). "Venezuela, Malaysia May Team on Refinery". Washington Post. Retrieved 13 July 2009.
  8. 1 2 "Malaysia gateway to Asean". The Star (Malaysia). 19 December 2006. Retrieved 13 July 2009.
  9. ↑ Abu Bakar, Zubaidah (21 December 2006). "Petronas set to play role in Venezuela oil sector". New Straits Times. Retrieved 13 July 2009.
  10. ↑ "Venezuela, Malaysia to cooperate in city-planning construction". People's Daily (China). 18 December 2006. Retrieved 13 July 2009.
  11. ↑ "Ministry of Foreign Affairs, Malaysia - Official Establishment of "MALAYSIA - VENEZUELA BUSINESS COUNCIL" (MVBC) - Year 2008". www.kln.gov.my. Retrieved 2015-07-10.
  12. ↑ "Venezuela keen to learn from Malaysia's experience in poverty eradication: FM". People's Daily (China). 18 December 2008. Retrieved 13 July 2009.
  13. ↑ "Malaysia, Venezuela sign trade pact". New Straits Times. 28 November 1991. Retrieved 13 July 2009.
  14. ↑ "Venezuela offers legal protection for investments". New Straits Times. 21 October 1999. Retrieved 13 July 2009.
  15. ↑ "Developing Countries Should Establish Own Financial Institution". Bernama. 13 February 2009. Retrieved 13 July 2009.
  16. ↑ "First Venezuelan Week in Malaysia". Embassy of Venezuela in Malaysia. Retrieved 13 July 2009.
  17. ↑ "Malaysia to host Venezuela Week". People's Daily (China). 1 July 2007. Retrieved 13 July 2009.
  18. ↑ "Bringing Venezuela to Malaysian Students". Sunway University College. 9 July 2008. Retrieved 13 July 2009.
  19. ↑ Jayaraj, Jayagandi (24 June 2008). "Various activities lined up for Venezuela week". The Star (Malaysia). Retrieved 13 July 2009.

External links

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