April 21, 2005
Chile and Venezuela sign a series of oil and cooperation agreements

(MercoPress News Agency) - "Chilean President Ricardo Lagos and his Venezuelan counterpart, Hugo Chávez, signed a series of oil and cooperation agreements while deepening political ties.

Lagos made a ceremonial stop at the tomb of South American independence hero Simón Bolívar and unveiled busts of Chilean poets Pablo Neruda and Gabriela Mistral in one plaza of downtown Caracas, before heading to Miraflores Presidential Palace to sign the accords.

After signing the agreements, Lagos said that both countries need to establish policies aimed at bring about social equality through regional economic growth and 'more realistic and efficient' integration. 'That's how we can create a new hemispheric reality'

Chávez thanked Lagos for cooperating with Venezuela and joining efforts toward Latin American economic and political integration. 'Your visit is an extraordinary opportunity to relaunch and initiate a new phase ... to put bilateral relations first,' Chávez told Lagos. 'We think energy can be the most important resource for integration in South America.

Venezuelan Oil Minister Rafael Ramírez said the two nations would sign an energy agreement in which Venezuela would eventually provide Chile with crude to lighten the workload at its refineries while expanding overseas markets.

Ramírez said a joint committee, consisting of representatives from both countries, would be formed to define details of the accord. Chile has had troubles with oil and gas shipments from Bolivia and Argentina, and appears to be looking for help from Venezuela, the world's fifth largest oil exporter, said Carlos Romero, an international studies professor at the Central University of Venezuela (.)".