Chavez to Trade Oil for Belarusian Tractors and Tinned Stew

Venezuelan President Hugo Chavez is to allocate to Belarus oil fields with developed infrastructure and an opportunity to produce up to 2 million metric tons of oil a year. The Venezuelan leader made the statement during talks with Belarusian Security Council Secretary Viktor Sheiman, the BelTA news agency reported on Tuesday.

Venezuela and Belarus signed 22 agreements on policy, trade, economics, military and technical cooperation during talks in Caracas last week. The countries agreed to set up several joint ventures and assembly plants. Belarus will also send to Venezuela vehicles and tractors as well as agricultural equipment.

On another note, Belarus has committed to gasify several villages and towns in Venezuela and build a 5,000-apartment district in Caracas. In an additional memo, the parties pledged to establish a joint investment fund and a bank.

Belarus will also supply Venezuela with food. The Latin American country is currently creating a state food reserve fund, so Belarusian condensed milk and tinned stew will come in handy.

Earlier this year, the Venezuelan parliament ratified a contract with Belarus for Caracas to buy military aircrafts and anti-missile defense systems from Minsk.