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Colombia and Venezuela Reach Agreement to Bolster Trade Ties

LATIN AMERICA
  • Colombia President Gustavo Petro and Venezuela President Nicolas Maduro reached an agreement to bolster border trade during their second in-person meeting since the countries re-established diplomatic relations in August.
  • The nations are now expected to revise the terms of their 2012 trade pact, which was put on hold during strained relations under Colombian ex-president Ivan Duque.
  • The joint statement released Saturday didn’t include a specific amount of new investment but did establish a timeline. Technical teams from both countries will meet no later than Jan. 27 to revise the terms of agreements on bilateral trade, market access and sanitary measures.
  • “We have a clear plan of how we will work together to create positive results for our countries in different areas,” Maduro wrote on Twitter after meeting with Petro in Caracas.

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