Friday, May 30, 2008

National Assembly (AN) ratifies bilateral agreements with Portugal in economics, energy and tourism

Caracas Daily Journal (Jeremy Morgan): The National Assembly (AN) has ratified two bilateral agreements with Portugal in the economic, energy and tourism spheres. The accords are intended to develop economic and cultural links between the two countries.

The first agreement sets out the terms of an interchange of technicians, producers and students. It also contemplates consultation mechanisms for evaluating the possibilities for investment in "mixed companies" formed by partners from both countries. The governments of Venezuelan and Portugal are particularly interested in joint deals in the energy sector.
  • Portugal has scant energy resources of its own, but has considerable experience in developing and exploiting oil and natural resources around the world.
The second agreement is focused on tourism, and contemplates the exchange of information, experience and "good practice" in the hotel sector. Portugal, a country blessed with few natural resources of its own aside from the sea, has been a popular tourism destination for decades.

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