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Agencia Cubana de Noticias (ACN)
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Cuba and Venezuela Sign 21 New Agreements

Havana, oct 15 (acn) Cuban First Vice-President Raul Castro and
Venezuelan President Hugo Chavez presided over a ceremony for the
signing of new accords for economic cooperation which took place in
Havana's Conventions Center this Monday afternoon.

The accords were subscribed in thirteen documents, five memorandums of
understanding, one cooperation agreement, two joint ventures, and three
contracts for oil exploration and exploitation.

On the five memorandums of understanding it was agreed to begin
feasibility studies for the creation of two joint ventures to build and
operate cement plants in both nations.

The documents also made reference to two plants for dry and additive
added mortars, petrochemical studies, the design and construction of
facilities for the regasification of liquid natural gas and a plant to
process heavy crude oil in Cuba.

Two letters of intent were penned in regard to two joint ventures, one
to develop the state run fishing industry of Venezuela, and another to
develop their fishing fleet in national and international waters.

Both parties also signed an accord on technological cooperation between
Cuba's CUPET and Venezuela's PDVSA.

In addition, two new joint ventures were created, one to exploit
serpentine nickel deposits, and a second to build and run a hotel in
Paredon Grande Key.

The three contracts for oil exploration and extraction in Cuba will
focus inland, on shallow waters, and on deep waters of Cuba's exclusive
economic area.

Hugo Chavez also signed a Presidential Decree for the creation of a
state run joint venture to install, operate and service the
international telecommunication system between the two nations.

Twenty-one new accords have been signed so far between Cuba and
Venezuela, nineteen of them for joint ventures in key economic sectors
of both countries.

Other high ranking officials attending the ceremony included Cuban Vice
President Carlos Lage, Ministers for Telecommunications Ramiro Valdes
(Cuba) and Jessy Chacon (Venezuela), Foreign Ministers Felipe Perez
Roque (Cuba), and Nicolas Maduro (Venezuela), Cuban Minister for
Foreign Investment and Economic Collaboration Martha Lomas, Venezuelan
Minister of Energy and Petroleum Rafael Ramirez, and Minister of Basic
Industry and Mining Jose Khan also from Venezuela.
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