Visakhapatnam: Union Minister of Commerce and Industry Piyush Goyal emphasised the need to reactivate the India–Venezuela joint committee mechanism wherein the last meeting was held a decade ago.

Holding abilateral meeting with the Minister of Ecological Mining Development of Venezuela, Hector Silva on the sidelines of the 30th CII Partnership Summit held in Visakhapatnam, he said 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 Pharmacopeia to facilitate pharmaceutical trade and highlighted opportunities to enhance cooperation in the automobile sector. The Union Minister added that India would engage with businesses exploring investment prospects in Venezuela. Hector Silva expressed interest in expanding economic engagement with India beyond the oil sector, including cooperation in critical minerals and attracting Indian investment.

Later, during his visit to Brandix India Apparel City (BIAC) at SEZ Atchutapuram, Union Minister Piyush Goyal said, "I am truly delighted to visit Brandix SEZ and the Andhra Pradesh MedTech Zone (AMTZ) where medical devices are produced. The textile park has 20,000 women. It's nice to see smiles on their faces.”

The Union Minister stated that he has invited all SEZ commissioners from across India. “They will hold a meeting in Visakhapatnam and visit Brandix Park and AMTZ. Also, we are examining what relief we could provide to the SEZs to increase production there,” the Union Minister stated.