(Agencia Bolivariana de Noticias (ABN) - VenGlobal News) - "The agreements endorsed by both nations cover seven fields including science and social security. The bilateral trade interchange amounts to $3 billion.

Venezuela and Cuba signed multiple projects of bilateral cooperation whose investment amounts to $ 1.5 billion in fields such as science, technology, social security, work, health, communication and education.

The Cuban Minister for Foreign Investment and Economic Cooperation, Marta Lomas informed about the figures after reading the 7th meeting of the Cuba-Venezuela Joint Intergovernmental Commission.

La Havana and Caracas endorsed 355 cooperation projects included in the Final Act of the Meeting

The six agreements will contribute to the development of other Latin American countries, Vice-president Raul Castro stated.

Both countries signed the Framework Agreement for the construction of 11 plants aimed at ethanol production. This agreement will help protecting the environment and saving fossil fuel.

Under the principle of the Bolívarian Alternative for the Americas (ALBA), the cooperation was focused on social missions such as education, health and sports

$ 584.2 million (of a total of $ 719.9 million), agreed by the Mixed Commission, were already invested and the rest of the money was redistributed, he explained.

The Minister Lomas pointed out that thanks to the so-called literacy teaching program Yo sí puedo (Yes, I can), Venezuela was declared free of illiteracy in October 2005 since 1.5 million people learnt how to read and write.

He stated that additionally both countries benefited from computing programs and farming development after both President (Fidel and Chávez) endorsed the Integral Cooperation Agreements.

From year 2000-2006 the bilateral trade reached $ 2.6 billion compared to the previous figure amounting to $902 million.

During three days Venezuela and Cuba revised what they have carried out and what they are intended to carry out in the next period to start on April.

Apart from Venezuela and Cuba, other founder nations are ALBA's member: Bolivia, Equator, and the Caribbean countries San Vincent, the Grenadines and Dominica".