Colombia and Venezuela sign commerce and energy deals

Colombia and Venezuela sign commerce and energy deals

2011-11-29 07:14:49 GMT+7 (ICT)

CARACAS, VENEZUELA (BNO NEWS) -- The leaders of Colombia and Venezuela on Monday agreed to a series of arrangements in a number of sectors such as commerce, energy, culture, science, and technology.

After five hours of meetings and reunions, Colombian President Juan Manuel Santos and Venezuelan President Hugo Chavez signed the agreements at the Miraflores Palace, which is located in the Venezuelan capital of Caracas.

Among the agreements endorsed by officials from both nations is the installation of an aluminum formwork production plant and industrial scaffolding for housing projects. An exchange of electricity supply between San Fernando de Atapo in Venezuela and Puerto Nibia in Colombia was also agreed to.

In addition, a joint study will be carried out by Petroleos de Venezuela S.A. and Ecopetrol of Colombia at the Maracaibo Lake in Venezuela and the Venezuelan state of Apure. The governments further agreed on the extension of an oil duct into Panama to distribute fuel in the region.

Other agreements included a memorandum of understanding for academic exchange programs and research projects into hunger and poverty. A Colombia-Venezuela strategic partnership was also agreed on in which home appliances will be manufactured as part of the Venezuela Housing Mission.

Venezuela's Health Ministry, meanwhile, also agreed to set up, with the help of Colombian industries, a factory to produce generic pharmaceuticals in the state of Carabobo. In the agricultural sector, the two countries signed a letter of commitment to deliver 1,200 milk cows, 200 breeding bulls and other farming animals to Venezuela.

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