From 21 to 25 July 2012, an Abkhazian delegation headed by President Bagapsh visited Venezuela after a similar stay in Nicaragua, together with a similar delegation from South Ossetia.[14] The visit was aimed at promoting international recognition and expanding relations within Latin America and the Caribbean. Prime Minister of Abkhazia Sergei Shamba said, "We believe that countries that respect the authority of Chavez as a regional leader will follow suit."[15][16] On 22 July, the presidents of Abkhazia and South Ossetia were declared guests of honour of Venezuela and symbolically received the keys of the city of Caracas.[17] On 23 July agreements were signed on the beginning of cooperation, on the establishing of diplomatic relations, on friendship and cooperation and on political dialogue.[14] President Bagapsh also invited Venezolan oil producer PdVSA to invest in Abkhazia – this was seen as an attempt to lessen the Abkhaz dependence to Russia.[18] The cooperation agreements were ratified by the National Assembly of Venezuela on 14 October.[19] The treaty on cooperation and friendship formally came into force on 29 October 2012.[20]