Bucharest, 08 August 2022 (TDI): Alfredo Torrealba, Ambassador of Venezuela to Romania, met with Sarmiza Bumbariu, General Advisor of the Ministry of Entrepreneurship and Tourism of Romania, in the city of Bucharest.

Meeting with the Romanian Advisor

During the meeting, the two sides talked about the potential of the Organic Law of Special Economic Zones, which President Nicolás Maduro declared on 20 July.

Ambassador Torrealba highlighted the goals of the law and called for an economic liberalization of the Venezuelan market. Further, the Ambassador emphasized fostering international investment and growth of the manufacturing, agricultural, tourism, and trade sectors.

In this regard, Torrealba also emphasized that the Law provides for the establishment, management, and operation of five Special Economic Zones. It maximizes the use of domestic or foreign private capital as a substitute for the nation’s economic recovery.

Additionally, the Ambassador emphasized the deployment of the productive forces and dismantling of the illegal financial blockade that has impeded the nation’s positive advancement.

Moreover, Torrealba said it would help in displacing the oil rentier model by luring domestic and international investments from companies. The Venezuelan envoy also emphasized the significance of this statute for monetary policy.

It is crucial to note that the Bolivarian Government has decided to use alternate trade systems to stimulate the economy. Consequently, the exclusive economic zones will feature a unique exchange system based on the free convertible of currencies.

Remarks of the Romanian Advisor

Advisor Sarmiza Bumbariu, for her part, expressed hope that the Organic Law of Special
Economic Zones will strengthen economic and trade ties between Romania and Venezuela. The Romanian Advisor also expressed hope that this regulation will increase economic activity and strengthen ties between the two nations.

The advisor promised to publicize the Law to the Ministry of Entrepreneurship and Tourism in Romania. Concluding the meeting, both parties agreed to keep better interaction to foster successful collaboration.