Chavez and Lukashenka to Establish Investment Fund :: Charter'97 :: News

President of Venezuela Hugo Chavez initiated the work on establishment of bi-lateral investment fund with Belarus. He declared that in the course of his talks with the State Secretary of the Security Council of the country Viktar Sheiman, the BELTA reports.

Chavez also suggested Minsk to enter the Humanitarian Bank of International development set up by Venezuela, Iran and Malaysia for provision of independence from international financial organizations. Those issues were considered during the visit of the Belarusian delegation to Venezuela in March 2007. Now Minsk and Caracas are to develop a number of investment projects in economic, social, financial and other spheres.

Previously Sheiman declared that Chavez was to provide oil fields with highly developed infrastructure for Belarus for annual oil mining of around 2 million tons of oil.

22 agreements were signed in the spheres of political, trade-economic, military and military-technological cooperation during the talks held in Caracas since 19 until 25 March.

In particular, the parties agreed on set –up of joint ventures, assembly works on delivery of the Minsk tractors and automobile works’ output agricultural and dairy equipment.