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Foundry Daily News

Venezuela-Nicaragua

to Firm Up Deals

Local parliament will soon debate and approve the agreements signed by Nicaragua and Venezuela governments in the framework of the Bolivarian Alternative for the Americas (ALBA), assured a legislative source Monday.

According to the coordinator of the Sandinista group Edwin Castro, those agreements are the opportunity for opening new markets for the Central American nation.

In declarations to the local press the deputy recalled the cooperation includes the opening two aluminium factories in Nicaragua and supply of fuel in advantageous conditions of payment.

The agreements were signed in Managua by Presidents Daniel Ortega and Hugo Chavez last January 11, one day after the Sandinista leader s inauguration and the same day in which the leader announced the formal entrance of the Central American country to ALBA.

Besides the energy sector the Venezuelan cooperation covers areas of infrastructure, agriculture, training, technology transfer and support of producers, cooperatives and programs as well as health and medicine.

Venezuela is also researching the possibility of building a refinery and an oil pipeline in the Central American nation.

ALBA Agreements content was sent to the unicameral Parliament last week.

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