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Venezuela and Barbados Strengthen Energy Cooperation with Investment Invitation

In a significant move towards strengthening bilateral relations, Venezuela’s Interim President, Delcy Rodríguez, and Barbados’ Prime Minister, Mia Mottley, held a working session focused on regional energy security. This meeting marks a pivotal step in enhancing cooperation between the two nations, primarily in the energy sector.

During the discussions, Venezuela extended a formal invitation to Barbados to invest in its oil and gas fields. This initiative aims to ramp up hydrocarbon production, a critical component for both countries’ economic strategies. By opening its doors to investment, Venezuela seeks to bolster its energy infrastructure and overall economic stability.

However, the agenda extends beyond traditional fossil fuels. The leaders also addressed the importance of complementarity in renewable energies, highlighting plans for joint efforts in the manufacturing of solar panels. This diversification of energy sources is seen as essential for both nations, aiming to create a more sustainable energy matrix.

To facilitate these ambitious projects, the delegations agreed to review existing agreements related to investment and double taxation. This collaborative approach underscores the commitment of both nations to foster a mutually beneficial relationship in energy security and investment, paving the way for future cooperation.

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