Venezuelan President Hugo Chavez arrived in Beijing on Tuesday for a trip that is expected to strengthen what he referred to as three “concrete objectives of high strategical importance,” AFP reported. Negotiations are expected to center on oil – China currently buys 300,000 barrels of oil a day from Venezuela, and is expected to buy 1 million barrels a day by 2013. Venezuela has been hit by falling oil prices, but it is expected to benefit from Beijing’s eagerness to supply its strategic oil reserves. Chavez is scheduled to meet President Hu Jintao today and Vice President Xi Jinping on Thursday.
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