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Colombia-Venezuela Trade Pact Signed at Border

LATIN AMERICA
  • Leaders from Colombia and Venezuela have signed a memorandum of understanding that, according to Venezuelan President Maduro, updates rules, including on tariffs, products and priorities.
  • The agreement is focused on modernizing trade rules between the two nations.
  • “It lays the foundations for a new dynamic of trade expansion between Colombia and Venezuela”, Maduro added. He also called for mayors and governors to discuss the creation of a bilateral economic zone.
  • Colombia President Petro says rule of law must be established in border areas to combat organized crime.
  • It is worth noting that earlier, Venezuela’s government-controlled National Assembly approved a law to support a previously approved agreement to promote and protect bilateral investments. (BBG)
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