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.
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.
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.
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 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.
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.
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.
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’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 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.
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 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."
Venezuelan and Nicaraguan officials met in Managua on Wednesday to deepen bilateral economic ties with the goal of fostering import substitution, promoting Latin American integration, and creating an economic alternative to US-dominated free trade agreements.
President Cristina Fernandez de Kirchner qualified agreements signed with Hugo Chavez for “key sectors” such as foodstuffs, energy and technology as “absolutely necessary” and “transcendental for the 21 Century”.
Zelaya joined the Venezuelan proposed ALBA, a fair trade alternative to Washington’s now-defunct Free Trade Area of the Americas, but is no Chavez puppet, despite what the all-out PR war from Washington-based business groups claims
Venezuela and the countries of the Bolivarian Alternative to the Americas (ALBA) decided not to sign the final document of the Summit of the Americas held on April 17-19 in Trinidad and Tobago, saying it excluded Cuba and offered no viable solution to the current economic crisis.
The framework agreement will form the basis for the further development of bilateral economic relations and for the participation of Swiss firms in projects in Venezuela.
The Bolivarian Alternative for the Peoples of Our America (ALBA) is centering the closing day of the Seventh Social Summit for the Latin American and Caribbean Union.
Venezuela plans to renegotiate a bilateral investment treaty with the Netherlands because oil companies have started "abusing" the agreement, Energy Minister Rafael Ramirez said on Wednesday.
While it is a US company, Exxon Mobil is entitled to invoke protection under the Netherlands-Venezuela Investment Promotion and Protection Convention, which guarantees resolution of Exxon Mobil’s dispute with Venezuela in the International Center for Settlement of Investment Disputes (ICSID).