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Venezuela and the European Union have made a new move to restore their political ties by conducting a top-level meeting in Caracas, where both sides reached an agreement on a collaborative plan for mutual cooperation.

The gathering occurred at the Federal Legislative Palace and was led by the President of the Venezuelan National Assembly, Jorge Rodríguez, along with officials from the European External Action Service.

As per Rodríguez, the meeting enabled the creation of a plan centered on “productive development.”

“We have set up a plan for effective growth,” he stated, without providing further information about the specific industries involved.

On the European side, Pelayo Castro Zuzuárregui, the Deputy Director General for the Americas at the European External Action Service, María Antonia Calvo Puerta, the European Union’s Chargé d’Affaires in Venezuela, and Adriana Vázquez, head of the South America division, attended the meeting.

The gathering was also joined by the first vice-president of the Parliament, Pedro Infante, along with the Venezuelan deputy minister responsible for North America and Europe, Oliver Blanco.

The parliamentary discussion comes alongside the meetings this week between European officials and members of the Venezuelan government, including a session with the interim president, Delcy Rodríguez, aimed at advancing a new phase of “friendly and productive” relations, as reported by state television VTV.

This change in structure occurs as the Venezuelan opposition advances its own vigorous diplomatic initiative in Europe. Under the leadership of María Corina Machado, the group has engaged in discussions with various European officials.

Machado is set to be awarded the Gold Medal of the Community of Madrid this Saturday.

IMF and World Bank

The background for the improved relations with the EU aligns with a significant moment in the economy. The International Monetary Fund (IMF) and the World Bank announced this week the resumption of their interactions with Venezuela, which had been halted since 2019 because of problems related to government recognition.

The acting president praised the choice and criticized “Venezuelan extremism” for attempting to hinder the nation’s reintegration into financial institutions during recent trips to European capitals.

“It is highly unfortunate that they have attempted to block such a crucial move for our economy,” she stated on state television.

Rodríguez referred to the resumption of relations as “a significant move for the Venezuelan economy” and expressed gratitude to the United States and various countries that acted as mediators for their assistance.

Regarding Caracas, normalization with the IMF and the World Bank strengthens the process of international reintegration, which it now aims to solidify in the political sphere with the European Union.