TTMA delegation to visit Venezuela

“We had not been able to tap into the entire amount that had been offered to us initially,” she said. Newsday was yesterday unable to contact TTMA president Dr Rolph Balgobin.

Last May, during Maduro’s visit to TT, he had signed an agreement with Government for the purchase of US$50 million of food products from TT to ease his country’s food shortage.

Although three shipments of food supplies were sent during June, July and September the entire US$50 million had not been used up.

(See Page 29A) The delegation, Goopee-Scoon said, will be expected to look at a wider range of products and greater volumes.

“I think now that the system has been put in place and there is some comfort with the level of operations, and the certainty of payments,” she said, “We now have greater interests among the manufacturers.” It is expected, too, she said that her ministry and Venezuela’s newly created Ministry of Basic Industries will sign a memorandum of agreement (MOA) towards collaborating in commercial projects.

The Venezuelans, she said, have promised to send a draft of the MOA early this year. “As soon as it has been forwarded to us, we will act on it,” she said noting that it will first have to go to Cabinet for approval before it is signed. “It is a pivotal point that we get involved in the beginning to collaborate so we can use the synergies of both countries and work together due to our proximity and excellent fraternal relations,” she said.

Venezuela’s Minister of Basic Industries Juan Arias’ visit to TT in mid-December last year, Gopee-Scoon said, was all about commercial possibilities, improving trade relations and working collaboratively with regards to investments on either side. Apart from the proposal of investing in several acres of pine forests in Venezuela, she said, “We are thinking along the lines of an aluminum project as well, but we did not discuss the details.” On the use of pine trees, Gopee-Scoon said, the idea is that the trees would be felled in Venezuela where the factories will remain, but TT will provide chipboards and the materials to bind the wood.

The finished products will then be forwarded to TT for marketing and distribution. “Let us see where it takes us,” she said noting that both countries have shown the willingness to advance relations, not only in energy, but in other commercial areas of cooperation including trade and other industries.