MINSK – Belarus' Ambassador to Venezuela Oleg Pafenov met with Venezuela's Vice President for Planning, co-chair of the Belarusian-Venezuelan joint commission on trade and economic cooperation Ricardo Menendez, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs.
“The parties discussed bilateral industrial cooperation, the implementation of joint projects and the agreement on the shipment of Venezuelan products to Belarus on the terms of counter deliveries,” the Belarusian ministry said.
Earlier it was reported that the parties had agreed on the mechanism to alleviate some of the issues in trade and economic cooperation. The matter is about supplies of Belarusian vehicle sets to Venezuela in exchange of supplies of hot briquetted iron for the needs of the Belarusian steel mill BMZ. Back in October 2017, Belarus Industry Minister Vitaly Volk pointed out that it was not about the commodity exchange and that all relevant trade transactions would go “through money”.
Venezuela is home to the joint venture MAZVEN that assembles MAZ trucks, Veneminsk Tractores C.A. assembling Belarus tractors and the factory assembling heavy-duty road construction equipment Empresa Socialista de Maquinarias Barinas, S.A.