Senor Carlos Andres Perez was sworn in on Tuesday (12 March) for a five-years term as President of Venezuela.
SV Travelling shot past police and crowd in main street PAN TO Congress Building (2)
SV Interior Perez is greeted on rostrum
MCU Dr. Raphael Caldera past camera towards rostrum
SV Mrs. Nixon watches
GV Caldera being greeted by Perez
SV Front row of audience
SV Caldera presents sash to Perez
CU Mrs. Nixon
SV Perez speaking form rostrum (2)
Initials SC/503 SC/526
Script is copyright Reuters Limited. All rights reserved
Background: Senor Carlos Andres Perez was sworn in on Tuesday (12 March) for a five-years term as President of Venezuela.
The ceremony -- held in the Congress building in the capital, Caracas, was watched by delegates form 70 countries, indicating Venezuela's importance as the world's third largest exporter of oil.
The 51-year-old leader of the Democratic Action Party won a landslide 49 per cent vote in elections last October, and received the insignia of office form outgoing President Rafael Caldera.
The swearing-in ceremony was attended by Mrs. Pat Nixon, who headed the United States delegation to the ceremony. Mrs. Nixon's interpreter for the visit was General Vernon Walters, Deputy Director of the Central Intelligence Agency She was to meet the new Venezuelan President after his inauguration.
Immediately after being sworn in President Perez announced he would nationalism the Venezuelan oil industry, controlled largely by big United States companies Venezuela is the United States' biggest overseas oil supplier.
President Perez said "We are going to realise the old aspiration of our people that our oil becomes Venezuelan". But he set no date for nationalisation.
President Perez promised to use Venezuela's oil profits to fight the nation's poverty and to assist the development of the other Latin American economies.
SYNOPSIS: The Venezuelan capital -- Caracas. On Tuesday, the nation's President-elect, Senor Carlos Andres Perez was sworn in at a ceremony in the Congress Building. The ceremony was attended by delegates from seventy countries, underlining Venezuela's importance as the World's third biggest oil exporter.
Senor Perez, the leader of the Democratic Action Party, won a land slide forty-nine per cent vote in the elections last October. He received the insignia of office from outgoing President Rafael Caldera.
Mrs. Pat Nixon led the United States delegation to the ceremony. She was to meet the new President after the inauguration.
The new President won the elections with promises of fighting poverty, curbing inflation and accelerating national development. President Perez takes over a country almost overwhelmed by its oil riches, but economically backward.
Mrs. Nixon's presence was interpreted as a sign that President Nixon wanted to maintain favour with the United States' largest overseas oil supplier. Immediately after his inauguration, President Perez announced he would nationalise the oil industry, controlled almost exclusively by big American companies. But he did not set a date for the takeover. President Perez said the profits from oil would help rid Venezuela of poverty and develop the nation's economy.