Cooperation Marks Morales Visit to Venezuela

Cooperation Marks Morales Visit to Venezuela Caracas, Apr 30 (Prensa Latina) With the creation on Friday of at least six joint ventures, Venezuela and Bolivia are expanding cooperation in the energy and food spheres, as part of Bolivian President Evo Morales' agenda in his visit to this country.

The agreements were ready to be signed in the presence of Morales and Venezuela's President Hugo Chavez, after being prepared in a session of the Venezuela-Bolivia Joint Economic Integration Commission.

After concluding the meeting, Venezuela's Energy and Oil Minister Rafael Ramirez stated that they would sign accords for the creation of five grand-national companies in the gas, refining, electricity, and prospecting and exploitation areas.

Venezuelan Food Minister Felix Osorio announced the creation of a food joint venture that would cover the whole productive chain, emphasizing the exchange of potato and corn seeds.

Venezuela is already working for prospecting and exploiting 12 hydrocarbon blocks in Bolivia, with an initial investment of $100 million and a total estimation of $900 million.

A letter of intention in the food sector will be also signed, so that Venezuela can import eight tons of refined soy oil, the first operation of this kind between both countries, according to announcements.

Talks included areas as political strategy and defense, health and sports, economy, finance, energy and mining, science and technology, food, agriculture and trade, and energy and oil.

The Bolivian president will conclude on Friday a two-day visit to Venezuela, as part of a quarterly consultation mechanism between both presidents to boost bilateral cooperation.