ISTANBUL (TURKEY) -- Venezuela and Turkey signed a memorandum of understanding and cooperation that encompasses a series of energy agreements and includes the provision of "infrastructure, medicine and food" by Ankara to the South American nation.

Venezuelan Oil Minister Eulogio Del Pino and Turkish Energy Minister Berat Albayrak signed the accord, which Venezuela's Communications Ministry said in a statement would be mutually beneficial.

Venezuelan President Nicolas Maduro and Turkish counterpart Recep Tayyip Erdogan were present for the signing ceremony in Istanbul.

The parties agreed to seek agreement on terms and conditions for the potential supply of fuel by Venezuelan state oil company PDVSA to Turkish port operator Global Liman Isletmeleri, the Communications Ministry said, adding that those shipments would supply the needs of cruise ships and other vessels.

They also reached a deal whereby Turkey would fund the optimization of existing port and transportation systems at the Jose Antonio Anzoategui Refinery in northeastern Venezuela in exchange for petcoke, a fuel that is a cheap byproduct of the oil refining process.

Agreements also were reached for the supply of fuel by PDVSA to Turkish Airlines' fleet, as well for the construction and operation of oil storage facilities in Turkey.

Maduro - accompanied by his wife, Cilia Flores, and several ministers, including Del Pino, Foreign Minister Delcy Rodriguez and Foreign Trade Minister Jesus Fariato - arrived in Turkey on Sunday take part in the World Energy Congress.

Source: Nam News Network