Uruguay and Venezuela sign strategic agreements
Uruguay and Venezuela signed
Wednesday several agreements, including one through which Caracas will
supply oil in exchange for food.
The documents were signed by incoming Uruguayan President, socialist
Tabare Vazquez, and Venezuelan President Hugo Chavez.
The texts signed were the Agreement on Energy Cooperation of Caracas,
the Montevideo Declaration on PETROSUR, an agreement related to the New
Television of the South and the Joint Uruguay-Venezuela Declaration.
The energy-cooperation agreement, similar to the one signed this week by
Chavez with Argentine President Nestor Kirchner, considers the shipment
of crude to Uruguay in exchange for food, knowledge and information
programs.
"Venezuela will certainly a big support for such a small country, in
which the energy problem is of utmost importance," said Vazquez after
signing the texts.
Through the so-called Caracas Agreement, Venezuela will supply Uruguay
43,600 barrels of petroleum a day, of which 75 percent have to be paid
within 20 days, and a part of the final price could be swapped for goods
and services.
Twenty-five percent of the remaining part has a two-year grace period
and a 15-year financing period.
In addition, the Venezuelan State-run firm PDVSA will open an office at
the Uruguayan capital and work alongside with Uruguay's National Fuel,
Alcohol and Portland Administration.
The Declaration of Montevideo allows Uruguay to joint the agreement
previously reached by Venezuela, Argentina, Brazil and Bolivia for the
creation of a regional petroleum company, PETROSUR.
Vazquez said he would favor relations with the Latin American countries
and promote the Common Market of the South, the economic bloc integrated
by Argentina, Brazil, Paraguay and Uruguay, in which Chile, Bolivia,
Peru and Venezuela are associates.
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