Why China should change position in Venezuela

China is the largest importer of oil in the world and Venezuela has the largest oil reserves in the world. It is only for these two reasons that economic relations between our two countries will develop, it is an inevitable fact. In fact, we hope to go further. Apart from oil, there are many areas in which we can help each other in the future on a commercial and cooperative level.

However, for this relationship to flourish, Venezuela must change and abandon the model of government that has ruined us economically. The country is going through a devastating humanitarian crisis: at least 87% of Venezuelans live in poverty and face a 90% shortage of food and medicine. Basic services, such as electricity and water, have collapsed. The inflation rate exceeded $ 2.6 million in January 2019 and is expected to reach $ 10 million by the end of the year, according to the International Monetary Fund.

In addition, Venezuela has become one of the most dangerous and corrupt countries in the world. The state no longer controls the national territory and we know that irregular groups, such as the Colombian National Liberation Army (ELN), operate in at least 12 states. This is why millions of Venezuelans have fled this situation, generating the largest migration ever recorded in Latin America. The migration crisis in our country already exceeds in figures the refugee crisis in Syria. International organizations such as the Organization of American States (OAS), the Office of the United Nations High Commissioner for Human Rights (OHCHR) and Human Rights Watch have confirmed our suffering on several occasions.

Our oil production accounts for one third of what it was in 1999 and our refinery fleet was very destroyed, as well as a good deal of our basic infrastructure. To recover, many investments will be needed and we are ready to receive them.

I hope that China, which knows exactly what is happening in my country, is helping, as a great power, to facilitate the political transition we need.. Nicolás Maduro has lost the support of the population and we hope that the transition will take place in peace and as soon as possible. We have been in contact with your authorities who know our position and our disposition.

Our goal is for Venezuela to become a stable country, a source of prosperity that guarantees the security of its investors and respects its commitments. We envision a country where legitimate foreign investment and the international agreements with which we have committed are honored and protected in accordance with our legal framework.

Venezuelans want a peaceful political transition without outside military interference. China is one of the world's two major economic powers and, as such, can contribute constructively to achieving this goal.

It is a fundamental global player, we are convinced that we must maintain and strengthen relations with all actors. We want transparent relations and stop the looting of Chinese investors over the last five years. China's development projects in Venezuela have disappeared as they have been destroyed by corruption or default on debt.

To begin the reconstruction of Venezuela, it is essential to restore the rule of law. For this, we have proposed a roadmap that will aim at reinstitutionalizing the country:

1- Cessation of the usurpation
2- Transitional Government
3- Free elections

Europe, Canada, the United States and most of Latin America's neighbors have supported us in our efforts to restore the institutions of our country. They ardently hope for the normalization of Venezuela and its new democratization.

The time has come for Beijing to add its voice to this choir. The presence of China has increased significantly in the region in recent years and it is also in their interest to contribute to a climate of peace, stability and well-being that we aspire to in this part of the world. When you want to take this step, you will find in Caracas a voluntary, open and reliable ally.

(Column published in Bloomberg)