CARACAS - A cooperation accord between the Venezuelan government and Chinese home appliances giant Haier Group has helped strengthen the industrial capacity and economic independence of the South American nation.

Under the accord, which marked its fourth anniversary Wednesday, more than 3 million household appliances of world-class quality have been sold across the Latin American country, benefiting around 1.5 million households with a Venezuelan government program called "My well-equipped home."

The ability to acquire such big-ticket items as refrigerators, washing machines, air conditioners, kitchens and televisions through government-run shops and distributors, translates into a more than 70 percent savings compared with regular store prices, officials say.

The accord also called for the creation of a joint venture for the production, assembly and sale of such appliances, to guarantee fair prices and facilitate the people's access to basic goods.

To that end, the first phase of a Haier appliance manufacturing plant was inaugurated on Sept. 20, 2012 in Valles del Tuy, in Venezuela's northern state of Miranda.

The plant, which is 85 percent Venezuelan government owned, is capable of assembling 815,000 units, or supplying 70 percent of the nation's refrigerator production and 63 percent of its washing machines.

The accord with the Asian firm additionally proposed incorporating parts manufactured locally into the assembly process, and launching a plant-related Research and Innovation center.

The transfer of technology and the training of Venezuelan workers operating the appliance production machines were also key features of the deal.

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