Venezuela's acting president meets Turkey's Erdogan to boost cooperation

Venezuela's acting president, Delcy Rodríguez, met with Turkish President Recep Tayyip Erdogan in Istanbul on Monday, signaling a desire to strengthen bilateral cooperation in key sectors. The surprise visit, following a five-day trip to India, saw the leaders discuss trade, energy, and mining.

Erdogan emphasized Turkey's commitment to "continue boosting cooperation... in many areas, especially in trade, energy, and mining," according to a statement from the Turkish presidency. The meeting took place at the Dolmabahçe Palace on the Bosphorus Strait, where they also addressed global events.

Turkey has cultivated close ties with Venezuela, a nation rich in oil. President Erdogan maintained relationships with the governments of the late Hugo Chávez and his successor, Nicolás Maduro. In recent years, Turkey has signed numerous agreements with Venezuela spanning defense, energy, tourism, and agriculture.

Despite possessing the world's largest oil reserves, Venezuela's production has significantly declined due to corruption, lack of investment, and mismanagement. The situation was exacerbated by a U.S. oil embargo in 2019, though sanctions were later lifted following Maduro's capture. Since then, Rodríguez has pursued reforms to open the oil industry to private investment.

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Turkey's determination to continue boosting cooperation... in many areas, especially in trade, energy, and mining.