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![]() Malaysia |
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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. [2] Diplomatic relations were established on 18 December 1986. [1] Both countries are full members of the Group of 77.
![]() | This section needs expansion. You can help by
adding to it. (February 2020) |
President Hugo Chávez first visited Malaysia in 1999, [3] and visited again in August 2006 to discuss investments in Malaysia's palm oil industry and to diversify Venezuela's energy industry. [4] Malaysia promised to support Venezuela's bid for a seat on the UN security council. [5] [6] During the trip, an agreement on avoiding double taxation was signed. [7]
Chávez proposed in December 2006 that Venezuela would build an oil refinery in Malaysia, [8] 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, [9] while Malaysian company Petronas would start oil exploration in Venezuela. [10] Malaysia also agreed to help Venezuela with city planning. [11]
A Malaysia-Venezuela Business Council was formed in July 2008, [12] partly so that Venezuela could learn from Malaysian experience in poverty reduction. [13] Bilateral trade was only US$6.6 million in 1990, when the countries signed a bilateral trade agreement, [14] US$30.6 million in 1998, when Venezuela set up legal protections for foreign investments, [15] US$19.8 million in 2004, [4] US$39.6 million in 2005, [9] 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. [16]
Malaysia held a "Venezuela Week" in July 2006, [17] 2007, [18] and 2008. [19] [20]
In 2020 due to the Covid-19 Pandemic Venezuela and Malaysia's trading ability was significantly hampered by the restrictions imposed by the governments of each countries Covid response measures.[ citation needed]
![]() | |
![]() 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. [2] Diplomatic relations were established on 18 December 1986. [1] Both countries are full members of the Group of 77.
![]() | This section needs expansion. You can help by
adding to it. (February 2020) |
President Hugo Chávez first visited Malaysia in 1999, [3] and visited again in August 2006 to discuss investments in Malaysia's palm oil industry and to diversify Venezuela's energy industry. [4] Malaysia promised to support Venezuela's bid for a seat on the UN security council. [5] [6] During the trip, an agreement on avoiding double taxation was signed. [7]
Chávez proposed in December 2006 that Venezuela would build an oil refinery in Malaysia, [8] 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, [9] while Malaysian company Petronas would start oil exploration in Venezuela. [10] Malaysia also agreed to help Venezuela with city planning. [11]
A Malaysia-Venezuela Business Council was formed in July 2008, [12] partly so that Venezuela could learn from Malaysian experience in poverty reduction. [13] Bilateral trade was only US$6.6 million in 1990, when the countries signed a bilateral trade agreement, [14] US$30.6 million in 1998, when Venezuela set up legal protections for foreign investments, [15] US$19.8 million in 2004, [4] US$39.6 million in 2005, [9] 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. [16]
Malaysia held a "Venezuela Week" in July 2006, [17] 2007, [18] and 2008. [19] [20]
In 2020 due to the Covid-19 Pandemic Venezuela and Malaysia's trading ability was significantly hampered by the restrictions imposed by the governments of each countries Covid response measures.[ citation needed]