Wednesday, September 27, 2006

Venezuela, Cuba to organize railroad joint venture

Venezuela, Cuba to organize railroad joint venture

Cuba is making plans to incorporate a new joint venture with Venezuela,
Cuban Transportation Minister Carlos Manuel Pazo said. As stated by the
minister, the joint venture will develop railroads in both countries

The Cuban-Venezuelan firm will buy buses from Belarus as part of a
government agreement on bilateral cooperation in the transportation
area, Pazo said, as quoted by Efe.

He noted that during a fair that will take place in the ExpoCuba
conventions center, on the outskirts of Havana, Venezuela will be
represented by important central government bodies, such as the
Infrastructure Ministry and Venezuela's Banco Exterior, the first Cuban
trade partner.

Last year, the Cuban-Venezuelan trade was over USD 3.5 billion and got
closer to USD 1.2 billion the first quarter of 2006, according to
official estimates.

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