World

Visit by Turkey's Erdogan boosts Venezuela's Maduro

Visit by Turkey's Erdogan boosts Venezuela's Maduro

He was visiting Moscow after hosting his Turkish counterpart Recep Tayyip Erdogan in Caracas.

Maduro added he remains "in permanent contact" with the Russian leader.

Figures from the Turkish Statistical Institute say that in the first nine months of the year, Turkey bought $900 million in gold mined in Venezuela - revenue that has helped replace the government's crashing oil revenues.

"You can not punish an entire people to resolve political disagreements", the Turkish leader said, according to an official translation of his speech to a business forum.

USA sanctions also target Venezuela's gold sales, but Maduro defiantly said that won't stop him from continuing his country's newfound trade with Turkey.

He also praised Venezuela's socialist leader, saying Maduro's "exemplary attitude is very valuable at a time when enmity toward Islam has risen and Western countries are stoking hostility toward foreigners".

In the face of such threats, Ankara will work to enhance trade ties with Venezuela to help the Latin American state deal with its economic crisis, Erdogan said. "We have strong potentials in our economic relations with Venezuela", Erdogan said.




The United States and some European nations have sanctioned Maduro's administration in an attempt to pressure Venezuela into making a return to democratic ways.

As a result of inefficient economic policies and failed experiments, that Venezuelan consumers in the end pay a high price, which includes the compulsory government-approved cryptocurrency Petro.

Massive inflation and a shortage of basic commodities such as foodstuffs and medicine have forced an estimated 2.3 million Venezuelans to immigrate to other South American countries.

Russian President Vladimir Putin during his meeting with Venezuelan President Nicolas Maduro at the Novo-Ogaryovo residence outside in Moscow, Russia, Wednesday, Dec. 5, 2018.

In what Maduro said was a clear message to the world, he stressed Turkey's position as an "important leader" in Eurasia and the current head of the Organization of Islamic Cooperation (OIC) as well as Caracas' place as the leader of the Non-Aligned Movement.

Turkey, a North Atlantic Treaty Organisation ally of the United States, has been involved in its own trade row with Washington, among other disputes.

Last month, the ruling United Socialist Party of Venezuela's vice president on economic development, Jesus Faria, said Maduro could visit Russian Federation by the end of this year to discuss economic projects.


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