India and Venezuela on Wednesday held the 5th India-Venezuela Foreign Office Consultations, during which both sides agreed to strengthen cooperation in key areas, including trade, health and pharmaceuticals, digital technology, agriculture, development partnership, culture, and people-to-people exchanges.According to a statement by the Ministry of External Affairs, both nations also reaffirmed their commitment to enhancing collaboration in multilateral forums of mutual interest.Both sides exchanged views on regional and international developments and agreed to coordinate closely in multilateral fora to advance the India-Venezuela partnership. MEA further noted that the next round of Foreign Office Consultations will be held in Caracas at a mutually convenient date.The meeting was co-chaired by P. Kumaran, Secretary (East), Ministry of External Affairs, Government of India, and by Tatiana Josefina Pugh Moreno, Vice-Minister of Foreign Affairs, Bolivarian Republic of Venezuela.Deepening Diplomatic RelationsIndia and Venezuela have warm, cordial relations. As per MEA, both countries share similar views on major international, political and economic issues. Both countries continue to engage actively in multilateral forums tto further strengthen bilateral cooperation. The two countries marked the 65th Anniversary of the establishment of diplomatic relations in 2024. Resident Embassies have been in Caracas and New Delhi for over four decades.Expanding Economic EngagementThe FOC meeting comes weeks after Commerce and Industry Minister Piyush Goyal held a bilateral meeting with the Venezuelan Minister of Ecological Mining Development on the sidelines of the 30th CII Partnership Summit in Visakhapatnam on November 15.During the meeting, the Venezuelan side expressed interest in expanding economic engagement with India beyond the oil sector, including cooperation on critical minerals and attracting Indian investment, according to a statement from India's Ministry of Commerce and Industry. Minister Goyal emphasised the need to reactivate the India-Venezuela Joint Committee Mechanism, which last met a decade ago. He noted that ONGC's ongoing operations in Venezuela provide scope for deeper collaboration in mining and exploration. He suggested that Venezuela may consider accepting the Indian Pharmacopoeia to facilitate pharmaceutical trade and highlighted opportunities to enhance cooperation in the automobile sector. He added that India would engage with businesses exploring investment prospects in Venezuela. (ANI)(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)
