BELARUS NEWS AND ANALYSIS

DATE:

23/07/2007

Belarus, Venezuela agree on arms sale

The governments of Belarus and Venezuela are to execute agreements on arms up to the amount of more than USD 1 billion ending July, Monday reported Secretary Victor Sheirman of the Belarusian Security Council.

"Within the ambit of military cooperation, agreements over USD 1 billion gave been reached with the Venezuelan Defense Ministry and President Hugo Chavez," Sheirman told the Belarusian TV.

The official noted that the deal was made during the recent visit to Venezuela of a Belarusian government team and the instruments would be initialed probably at the end of July, Efe reported.

Sheirman added that bilateral cooperation included also the energy business. In this way, late this year, Belarusian companies are to engage in oil drilling in at least two Venezuelan deposits, according to Russian news agency Interfax.

According to the high-ranking official, in order to power bilateral economic relations, both governments agreed on the organization of a USD 500-million investment fund to develop joint projects.

Source:

http://english.eluniversal.com/2007/07/23/en_pol_art_belarus,-venezuela-a_23A904085.shtml