February 11, 2005
Bancoex forecasts an increase of 40% in non-traditional exports

(El Nacional) - " The Vice President of Bancoex (Bank of Foreign Commerce), Luis Gioia, said in 2005 there will be a 40% increase in non-traditional exports compared to 2004, when commercial activities reached 6,400 million dollars according to the National Institute of Statistics.

Francisco Mendoza, President of the Venezuelan Exporters Association, thinks these forecasts are viable because it was possible to ease up the draw back process.

This statement was made during the signing of a cooperation agreement between the Bank of Foreign Commerce and the Venezuelan Exporters Association. With this agreement they intend to strengthen the activities of non-traditional exports, focusing on exchanging information, training and promoting commercial sectors in trade shows abroad " .