Venezuela to revise undertakings with countries signatories of FTA

El Universal, Caracas, 26 October 2005

Venezuela to revise undertakings with countries signatories of FTA

Minister of Integration and Foreign Trade Gustavo Márquez declared Tuesday that in the event that the parties to the Andean Community shall decide to sign a Free Trade Agreement (FTA) with the United States, Venezuela will have to revise trade arrangements with those nations.

Márquez criticized the Free Trade Area of the Americas (FTAA) bolstered by the United States and advocated instead the Bolivarian Alternative for the Americas (ALBA), during an interview with official TV channel Venezolana de Televisión.

The minister put neighboring Colombia as an example, as proximity demands close economic relations that should be adjusted eventually, the official news agency ABN reported.

source: El Universal