Venezuela escalates trade with Russia
Venezuela is boosting trade with Russia, creating joint-venture companies in sectors ranging from oil to agriculture, officials said yesterday.
Russia and Venezuela plan to form joint-venture companies to build cargo trucks, mine gold and diamonds, manufacture pipes, kitchen utensils and milk-packaging machines, said Jose Khan, Venezuela’s basic industries and mining minister.
Defence deals have recently been a major source of growing trade. Venezuelan president Hugo Chavez’s government has signed deals to buy 24 SU-30 fighter jets, 53 military helicopters and 100,000 Kalashnikov assault rifles, along with a factory to make the rifles and ammunition.
Aside from Russian defence contractors, other companies at the meeting included aircraft maker Ilyushin and Russian oil company Lukoil.
Officials said about 80 Venezuelan businesses attended the talks, along with 67 Russian companies.
