Venezuela is interested in further cooperation with in setting up joint ventures, Vice President of Venezuela Ramon Carrizales said as he met with co-chairman of the joint Belarusian-Venezuelan high level commission Viktor Sheiman on June 20. 

The Venezuelan guest stated that and have been implementing a number of mutual projects including in the oil industry and housing construction. “We are interested in improving the relations with other Belarusian companies in setting up joint ventures. We are keen to borrow the Belarusian experience and technologies,” Ramon Carrizales stressed. 

Speaking about the current economic downturn, the Vice President of Venezuela has emphasized that it is much easier for the countries with the state-controlled economy to overcome the consequences of the crisis. He also added that and should benefit from the present-day situation. 

In 2008 the trade between and increased by 298% from 2007 and totaled $173,3 million. The growth was due to an increase in export. Belarusian export surged by more than 305% to $173.1 million. The import amounted to $147,000 (down six times). had a surplus of more than $172 million. 

In January-April 2009, Belarusian export to doubled over the same period 2008. Import was virtually non-existent. 

In 2007 the Belorusneft Production Association opened its office in . 

Belarus and created a joint oil production companies, Petrolera BeloVenezolana and the Sismica BeloVenesolana joint seismological venture. Belgorkhimprom has opened its representative office in . 

Furthermore, in there are joint ventures set up jointly with BelAZ (Ven-BelAZ Camiones ), BelavtoMAZ (MAZ Ven ) and MTZ (VeneMinsk Tractores C.A). 

Belarus and Venezuela have been steadily developing cooperation in construction. In particular, the two sides have opened a joint venture to produce construction materials and a company for the implementation of the infrastructure and dwelling project in the Macarrao region in Caracas . The Belzarubezhstroi company has opened its representative office in Caracas .

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