Venezuela, Cuba Sign $3 Billion in Joint Projects

[bemildred]

Source: Reuters

HAVANA (Reuters) - Cuba and Venezuela signed cooperation deals worth nearly $3 billion on Saturday, underscoring Caracas' role as the communist-run island's closest political and commercial ally.

Venezuela, an OPEC member, has become a vital source of energy and trade for Cuba in recent years and it exports 98,000 barrels of crude a day to the cash-strapped Caribbean nation on favorable financing terms.

"We've signed 264 contracts worth a total of $2.951 billion," Venezuelan President Hugo Chavez said in a televised speech, saying another 20 similar agreements would be inked later this month.

The cooperation deals relate to health, fishing, education and sports projects and the countries will also form at least seven joint state-run companies in the sugar, aluminum, transport and farming industries.

Read more: http://abcnews.go.com/Business/wireStory?id=9321420

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:popcorn:

[boppers]

1. 21st century regional politics.

Interesting times to live in.

[Vidar]

2. Good for Venezuela and Cuba. Meanwhile we strive for third world status

to keep our corporate overlords happy.

[Braulio]

11. Venezuela and Cuba have weak economies

These trade agreements are mostly intended to provide vehicles to subsidize the Cuban economy with Venezuelan petrodollars. But the Venezuelan economy is weakening, and the Cuban economy is very inefficient because it's a state run communist style command economy. The US economy is indeed run very badly, but even in its worst moments, it is run much better than the Venezuelan or Cuban economies.

[Union Yes]

3. Government policies that create jobs? Seems like a foreign concept. knr

[EFerrari]

4. Oh, you devil, you.

:)

[Ghost Dog]

5. k&r.

No comment. :)

[Stumbler]

6. So, when can the US start it's own solo "joint" project?

And by that I obviously mean decriminalizing, legalizing and selling marijuana in joint form! C'mon, it's time to jump-start a new industry at home, and stop exporting US $$$ to foreign drug lords. Please?!?

[silverweb]

7. Good for them.

:kick:

[pampango]

8. Agreed. They're both better off with the trade deal than without it. n/t

[dotymed]

9. I am so glad

to see a nation showing America how stupid their embargo against Cuba really is. Cuba, because they chose a different form of government, one that (if not for U.S. interference) benefits the citizens not the wealthy. It is the same thing that America should be doing. That is why "we" have hampered their Socialist experiment and are responsible for many Cuban deaths and a lot of their continued poverty. "We" were afraid that if our citizens saw a successful Socialist country doing what is fair for all citizens, not just the wealthy, then Americans would want to incorporate it into their government. I understand that Castro's regime has often been brutal. I also realize that if America did not interfere and try to "break" them constantly, then their history could have been much different. We have many socialist programs that work in America. Most "civilized" nations do (much more so than America). Our country would be much more successful and fair if we openly incorporated many Socialist agendas into our "unregulated capitalistic society". One of our very best Senators, Bernie Sanders, recognizes and openly governs with modified Socialist dogmas helping him decide what is really best for the majority of Americans. He is usually right and fair. It would be so beneficial if (at least)we created a political party closely allied to the brilliant ideas of Senator Sanders. He would make the best President that America has ever had.

[silverweb]

10. Agreed.

On all counts.