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Venezuela Signs Port Modernization Agreement with Texeira Duarte

Public Works and Ground Transport Minister Ricardo Molina signs the agreement with Texeira Duarte President Pedro Maria Texeira

The multi-million dollar deal will see the upgrading of the capacities of the La Guaira port in order to reduce loading and unloading times by an estimated 250 percent.

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Mercosur Suspends Venezuela

Venezuela has been a member of Mercosur since 2012. (Prensa Seniat)

South American trade bloc Mercosur has agreed to suspend Venezuela, officials reportedly said Thursday.

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Ecuador Proposes Anti-Transnational Summit in Venezuela as Maduro Confronts Low Productivity Levels

Ecuadorian president Rafael Correa (left) with foreign minister Ricardo Patiño and Nicolas Maduro. (AVN)

Tomorrow Ecuadorian foreign minister Ricardo Patiño will meet with the Venezuelan president in Caracas to discuss the creation of an official Observatory of Transnational Companies. Nicolas Maduro also plans to meet with private and public sectors of the economy.

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Trade between Venezuela and Colombia Back on Track

La Guaira Port, Venezuela (Agencies)

Trade between Venezuela and Colombia increased 40.4% in 2012 compared with the previous year, Colombia’s customs and tax authority has reported.

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Venezuela’s Full Membership of Mercosur Converts the Bloc into “Fifth World Power”

Venezuelan president Hugo Chavez (far left) at the Mercosur summit on 31 July, with the other three presidents (EBC).

Venezuela’s formal entry into the Common Market of the South (Mercosur) yesterday will change the dynamics of the trade bloc, increase Venezuela’s economic possibilities, and is a step towards greater regional integration, the presidents of Brazil, Argentina, Venezuela, and Uruguay argued.

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Venezuelan President Signs Major Deal with Chinese Development Bank

Venezuelan President Hugo Chavez (center) with Chen Yuan (right), President of the Chinese Development Bank, and Zhoa Rongxian (

On Wednesday Venezuelan President Hugo Chavez signed a long-term agreement with the Chinese Development Bank aimed at financing some 137 development projects planned for the 2013 – 2030 period.

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China-Venezuela Relations Keep Growing

Venezuela’s Planning and Finance Minister, Jorge Giordani (right), at the Third Industrial Expo China-Venezuela 2011 in Caraca

Trade between China and Venezuela has increased by 50 times in the last decade, which has transformed the Asian country into the second largest trade partner of Venezuela, a fact evidenced by the consolidation of bilateral relations. 

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Venezuela-Brazil Cooperation Advances Following Talks

Brazilian Foreign Minister Antonio Patriota met for the first time with his Venezuelan counterpart Nicolas Maduro on 7 February

Brazilian Foreign Minister Antonio Patriota on Monday met with his Venezuelan counterpart Nicolas Maduro to advance their countries’ bilateral projects. The meeting was the first between the two countries since Dilma Rousseff became president of Brazil on 1 January 2011.

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Venezuelan Trade Declines with U.S., Increases with Brazil, Russia, China, Japan

Venezuelan Foreign Minister Nicolas Maduro addresses Brazilian

Trade between Venezuela and the United States decreased by more than half in the first semester of this year. Meanwhile, Venezuela continued to diversify its trading partners in South America and abroad, most recently through a series of bilateral accords with Brazil, while Russia increased its investments in the Orinoco Oil Belt fivefold.

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