President Nicolás Maduro (right) and Colombian Minister of Commerce, Industry, and Tourism, Darío Germán Umaña (left). File photo.
On Friday, February 3, at the Miraflores Palace, Venezuelan President Nicolás Maduro signed an agreement with the Republic of Colombia for the reciprocal promotion and protection of investments in order to strengthen economic development between both nations.
Representing Colombia was the Colombian Minister of Commerce, Industry, and Tourism, Darío Germán Umaña Mendoza, who described the agreement as a “historic milestone.”
“It is a historic milestone, and what we are doing is an example for all of Latin America. It is a symbol of integration, of service, of creating this collaboration for development,” said Umaña Mendoza.
This agreement strengthens economic integration and investment protection and points toward promoting a majorly significant productive and commercial integration between both nations. “We are complementary countries,” said Maduro during the signing ceremony.
“We have to think big, for the construction of a free trade zone in the state of Táchira,” he added. “All the logistical, economic, commercial, and historical conditions are in place. Let’s think big.”
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“The faster we thread the common policies of our governments and take the first steps, the sooner the time will come when Latin America and the Caribbean will have a powerful economic, commercial, and monetary bloc so that our peoples can present ourselves to the world,” Maduro said.
“In order to achieve this, we have to weave a part of the path every day, and I feel that this new and unprecedented Investment Promotion and Protection Agreement points us in the direction of the union of both nations and points toward the future economic, commercial, and monetary union of Latin America and the Caribbean. It has the right concepts and codes, we are on the right path,” he insisted.
Strengthened investments
According to Maduro, the institutional framework created as a result of this agreement will be very useful for the flow of investments between both nations.
“We welcome Colombian investments in all the economic structures of the Republic,” he said. “We have to open the floodgates for investments in oil, gas, petrochemicals, agribusiness, industry, logistics, and infrastructure.”
He assured that the investment portfolios for the two nations are well-aligned.
President Maduro stressed to Venezuelan investors that the time has come to expand their investments and portfolios. “This agreement that we have signed today points us in the direction of securing their investments from Venezuela in Colombia.”
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“Do not stay back here; we are waiting for you with open arms,” he said, addressing Colombian investors, and announced that a series of conferences, forums, and events will be developed in the country for the meeting of businessmen from both nations.
“There are so many things to do,” President Maduro continued. “We have to properly explain the opportunities that this agreement will open up, and now we have to move forward with the aspects of the trade agreement.”
The Venezuelan president also announced that in the next eight days, the trade agreements with Colombia will be signed, according to progress reports from Colombian Minister Umaña Mendoza.
Maduro then reiterated the proposal for the creation of a bi-national commercial zone between Venezuela and Colombia. “All the logistic, economic, commercial ,and historical conditions are in place. Let’s think big!”
(Últimas Noticias) by Odry Farnetano
Translation: Orinoco Tribune
OT/KZ/AF
