President Nicolás Maduro welcomes approval of the Law for the Promotion of Non-Oil Exports

When welcoming the approval in the first discussion of the Bill for the Promotion of Non-Petroleum Exports by the National Assembly (AN), the President of the Republic, Nicolás Maduro, emphasized that it marks the route of the new diversified, productive economic model with export vocation that Venezuela is building.

During the broadcast of the “Con Maduro+” program, he stressed that the legal instrument “will allow us to position ourselves in the growth of the non-oil economy to bring Venezuelan products to the world.”

We are on the right path, we are on the right side of history and Venezuela will become an export power beyond oil,” he stressed.

On September 21, during the meeting of the National Council of Productive Economy, the Venezuelan president asked the National Parliament to study, consult, discuss and approve “with great promptness and quality” the new Law for the Promotion of Non-Oil Exports, which will give way to “an institutional revolution and bring us up to date with the 21st century to facilitate all export activities of the Venezuelan economy in non-oil activity.”

In this sense, in the ordinary session on Tuesday, September 26, the plenary session of the AN unanimously approved the Non-Oil Exports Law, whose objective is to establish and develop mechanisms that facilitate the export of non-oil goods and services.

The legislation determines the creation of the National Export Fund, assigned and administered by the Export Promotion Agency. In essence, it is intended to promote the harmonious development of the national economy in order to raise the quality of life of the population, generate new sources of work and strengthen economic sovereignty.