Venezuela: Maduro’s proposal to Petro for commercial restoration

The president of Venezuela, Nicolás Maduro, raised in a meeting with businessmen and broadcast on television, a creation of a binational economic zone between Colombia and Venezuela.

(Also read: Venezuela: the economic figure that Maduro promises will leave everyone ‘impressed’)

Maduro assured that he will propose to his Colombian counterpart, Gustavo Petro, “the construction of a large productive Special Economic Zone between Táchira and Norte de Santander.” He assures that the commercial relationship on the border is on track.

Maduro assured that Colombia already had its commercial offer for Venezuela ready, so Venezuelan businessmen had to speed up the process to offer national products. He stated that the export of rubber could be one of the items to offer to the neighboring country.

The president took advantage of the meeting to give economic indicators on Venezuela, assuring that the economy continues to recover and the projections are positive.
Maduro added that according to the Economic Commission for Latin America and the Caribbean (ECLAC) the growth expectation for the country went from 5 percent to 10 percent.

In the broadcast, the president of the Central Bank of Venezuela (BCV), Calixto Ortega, indicated that Venezuela has been growing two digits for four quarters. Ortega informed Maduro that in the fourth quarter of 2021 growth was 19.07 percent “it is the second highest in the region.”

Ortega added that in the first quarter of 2022 growth was 17.04 percent, and in the second quarter of 2022 the private sector grew 18.7 percent.

President Maduro took the opportunity to announce that he will deliver to the National Assembly a draft Law on the Coordination and Harmonization of Regional and Municipal Taxes “to end the chaos, for a single tax strategy.”

Another announcement was the possible repeal of the Fair Prices Law, applied during the years of food shortages in the country. This law would be replaced by the Protection of Socioeconomic Rights.

“We hope in 2023 and 2024 to bring that inflation to one digit, with a stable exchange system,” Maduro said.

ANA RODRIGUEZ BRAZON
WEATHER CORRESPONDENT
CARACAS

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