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Venezuela

Treaty disputes roiled by bias charges
10-Jul-2013
Concerns about objectivity and accountability of investment dispute arbitrators have prompted calls for tougher ethical guidelines as caseloads have exploded.
Venezuela claims ICSID arbitration victory over Panama’s OPIC Karimun Oil Company
30-May-2013 Latin American Herald Tribune
Venezuela reported a triumph at the World Bank’s International Center for the Settlement of Investment Disputes in a case brought by Panama’s OPIC Karimun Corporation on compensation for losses it sustained when Venezuela nationalized oil fields in 2007.
ICSID: Ruling favours Venezuela and raises doubts for Costa Rica
31-Jan-2013
A few days ago, ICSID published an award rendered last December 12, 2012 ruling on a claim filed by a Canadian mining company, Vanessa Ventures against Venezuela in 2004.
Venezuela joins Mercosur: A new strategic alliance
29-Oct-2012 CIP Americas Program
Venezuela’s entry into Mercosur has had interpretations centered on the economic and commercial aspects, but the most important it is a geopolitical and geoenergy matter.
Icsid: Venezuela with the largest amount of ongoing complaints
22-Aug-2012
Venezuela turned out to be the country with the highest number of complaints filed against it at the International Centre for Settlement of Investment Disputes (Icsid) of the World Bank, after four new complaints lodged in the days prior to its effective pullout of the body.
Chavez: joining trade bloc a boon for Venezuela
31-Jul-2012 AP
Joining the South American trade bloc Mercosur will be a boon for Venezuela and should help the country’s businesses boost international sales, President Hugo Chavez said Monday as he traveled to Brazil for a meeting where Venezuela will formally become a member.
FTAs signed with Panama, Venezuela may come into force in April
21-Feb-2012
Peru’s Ministry of Foreign Trade and Tourism (Mincetur) announced Monday that the Free Trade Agreements (FTA) signed by Peru with Panama and Venezuela will come into force in April.
Experts: More lawsuits to be filed against Venezuela in Icsid
5-Feb-2012
Venezuela’s decision to leave the International Centre for Settlement of Investment Disputes (Icsid) may lead to further claims against the country in that court, said Diana Droulers, the executive director of the Arbitration Center, Caracas Chamber of Commerce.
If Venezuela joins the Mercosur economic bloc, will it follow the rules?
24-Dec-2011
Venezuelan President Hugo Chavez needs to wait a bit longer for his country’s entry into Mercosur, the Common Market of the South founded in 1991 by Argentina, Brazil, Paraguay, and Uruguay. Though the group feels they found a procedural move to get around the opposition of Paraguay’s legislature, the move will take additional time.
Chavez and ALBA
21-Sep-2011 La Hora
Venezuelans and Latin Americans have to acknowledge that Fidel and Chavez devised, created and forged the Bolivarian Alliance for the People of Our America/The Trade Treaty for Our People.
Nicaraguan businesspersons seek free trade agreement with Venezuela
7-Jul-2011
There are concerns in Nicaragua about the health of Venezuelan President Hugo Chávez, with whom the Central American government has signed trade agreements without the participation of Nicaraguan businesspersons, DPA reported.
Peru, Venezuela likely to end trade agreement talks in July
26-May-2011
Negotiations on a Trade and Productive Complementation Agreement between Peru and Venezuela will conclude in July, Peruvian Minister of Foreign Trade and Tourism Eduardo Ferreyros estimated.
Venezuela formally exits Andean nations and waits for Mercosur incorporation
24-Apr-2011
Venezuela formally exited the Andean Community of Nations, CAN, Friday when it stopped belonging to the free trade zone which for 38 years eliminated a full range of tariffs among its members (Peru, Ecuador, Bolivia and Colombia), announced the Venezuelan Foreign Affairs ministry.
US feels threatened by MERCOSUR consolidation and Venezuela’s “generosity” in the region
9-Mar-2011 Venezuelanalysis
A US diplomatic cable released by Wikileaks and published yesterday reveals the U.S.’s fear over the consolidation of the Southern Common Market (Mercosur) and Venezuela’s entry to the organisation.
Venezuela and Ecuador consolidate bilateral agreements, SUCRE currency system
19-Jan-2011 Venezuelanalysis
Venezuelan President Hugo Chavez and Foreign Minister Nicolas Maduro met on Monday with the Ecuadorian Foreign Minister, Ricardo Patiño, to evaluate the progress of their country’s bilateral agreements. Among the ambitious goals set during the meeting was an increase in the use of the sucre, a regional currency being used in trade between the two countries.
Political deal in Paraguay to vote for Venezuela’s incorporation to Mercosur
1-Dec-2010
Venezuela’s incorporation to Mercosur as full member seems closer as the Paraguayan Senate readies to consider the issue following on political agreements worked out by President Fernando Lugo.
Gold Reserve Inc. submits $1.928 billion arbitration claim to World Bank’s ICSID
29-Sep-2010 Market Watch
Gold Reserve’s claim alleges violations of three provisions of the Canada-Venezuela BIT culminating in the effective expropriation of Gold Reserve’s investments in the Brisas gold/copper project and the Choco 5 gold property.
Nicaragua and ALBA negotiate a People’s Trade Treaty
3-Sep-2010 SDP
Nicaragua and the South American and Caribbean countries that are members of the Bolivarian Alliance of the Americas (ALBA) are negotiating an integration treaty that covers economic, trade and political issues.
Colombia, Venezuela to negotiate free trade
16-Aug-2010 Buenos Aires Herald
Colombian President Juan Manuel Santos unveiled that during the meeting he had with his Venezuelan counterpart Hugo Chávez they agreed to continue with the creation of a judicial frame to allow free commerce between both countries.
The Caracas Manifesto reaffirms the agreement to strengthen the sovereignty of the people
21-Apr-2010 ADITAL
"The time has come for us to take on an Economic Plan that places greater emphasis on projects and transnational companies, the People’s Trade Treaty, the sucre and the Bank of Alba as the foundational pillars for a common economic area."