In the following years after treaties and conventions where both Nations benefit continued. The most recent agreements are aimed toward energy development, since Venezuela and Brazil have the largest reserves of natural gas in the region and together they could control the South American market, other series of agreements relating to other items which are listed below (www. abn. info. ve/News) were signed in May this year programme of trade liberalisation between the two Nationswhose objective is to establish a general timetable for trade bilateral, prior to the final accession of Venezuela to the common market of the South (MERCOSUR) and pro articulate with other spaces of political and social integration in the region.
-Memorandum of understanding between Petrochemistry of Venezuela (Pequiven) and Braskem, for the implementation of s-petrochemical facilities in the petrochemical pole of Camacari, Bahia; and an addendum to the letter of intent signed between these companies to continue with the development of an assessment of future Association. Memorandum of understanding between Petroleos de Venezuela (Pdvsa), through its subsidiary Pdvsa engineering and construction and Norberto Odrebrecht, for the creation of a joint undertaking which provides engineering, procurement and construction services. -Moreover, memorandum of understanding between the Ministry of people for the economy and Finance’s power and the economic Federal Caixa of Brazil in order to expand coverage, at the national level, of the banking public network of Venezuela, through networks of care for the population and technological solutions for access to banking services and social programs, . Venezuela and Brazil plan develop joint projects in industry, depending on which created an operational programme to develop sectoral strategic projects that will enable the articulation of public and private sectors of both Nations to common industrial development. -Also signed a letter of intent for the financing of projects binational Venezolanosbrasilenos, with the aim of promoting the financing from the Bank of economic and Social development of Brazil (BNDES) of binational projects of companies in Brazil’s industrial development, infrastructure and other strategic industries for Venezuela.
