05:22 GMT +322 March 2019
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    Venezuela, Palestine Sign Agreement on Diamond Production

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    BUENOS AIRES (Sputnik) – Venezuela and Palestine have concluded a strategic agreement on the production of diamonds, the live broadcast of the signing ceremony on Venezuelan President Nicolas Maduro’s Twitter account showed.

    "Let us talk about the plan to produce diamonds. Venezuela has the largest diamond reserves in the world. We have oil, gold and diamonds. God supplies us … We are witnessing the signing of a big alliance between a Palestinian company and 154 small diamond production alliances, [operating] in the area of the Orinoco River," Maduro, who is seeking to restore the Venezuelan crisis-hit economy, said in his address to the companies in the Guayana region.

    The speech was followed by the deal signing.

    READ MORE: France's Total Says Full Shutdown of Venezuelan Oil Production Unlikely

    According to the Venezuelan official figures, 85 percent of diamonds, found in the country’s Bolivar state, especially in the area of the Orinoco River, were the highest quality diamonds that met various international standards.

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    Tags:
    sign, ceremony, production, diamond, Nicolas Maduro, Palestine, Venezuela
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