Vehicles drive on a highway in Caracas, Venezuela, on March 13, 2021. Photo: Xinhua

The establishment of diplomatic relations between China and Honduras is a historic event, which will further advance the communication in various fields between China and Latin America and the Caribbean region, Ambassador of Venezuela to China Giuseppe Yoffreda told the Global Times in an exclusive interview.

As a member of the Latin American region and a country that firmly supports the one-China principle, Venezuela welcomes the establishment of diplomatic relations between China and Honduras and believes that this event reflects the fact that the one-China principle is generally accepted in the international community. Venezuela firmly supports China's right to safeguard its sovereignty and territorial integrity, the ambassador said.

It will further promote exchanges between China and Latin America and the Caribbean region in various fields, especially the cooperation between the two sides under the mechanism of the China-CELAC Forum to jointly build a community with a shared future.

Honduras and China established diplomatic relations on March 26 with the Central American country recognizing Taiwan as an inalienable part of China's territory.

During an investment promotion conference held on Thursday, Yoffreda said the US and its allies have imposed more than 900 unilateral sanctions on Venezuela in violation of the UN Charter. Against this backdrop, Venezuela enacted the Anti-Blockade Law and Special Economic Zones Law to support foreign investors who are still interested in investing in Venezuela despite the sanctions.

The two laws have given foreign investors a series of economic and financial incentives, including free exchange and remittance of dividends, which will help to protect the interests of foreign investors in the context of sanctions, the ambassador said.

"Venezuela welcomes more Chinese investors to invest in the country's energy, mining and agriculture sectors as well as other fields," he said.

Venezuela's government and its oil company PDVSA have offered to pay suppliers and contractors into accounts in China using the yuan, according to media reports in 2019.

Over the past few years, China and Venezuela have had mutually beneficial cooperation. In the post-epidemic era, the recovery of the global economy and the reopening of borders will brighten the prospects for cooperation and push the comprehensive strategic partnership between the two countries to a new level, Yoffreda noted.

The ambassador also said that the unilateral economic sanctions imposed by the US have sharpened Venezuela's need and desire to get rid of a single production model, realize economic diversification, and make full use of the country's resources.

Venezuela has abundant resources, a strategic location, and people who never give up, making it an ideal place to invest, he said.