A Colombia-Venezuela bilateral commission on trade met in Caracas Tuesday to analyze the state of economic relations between the two neighbor nations.
At the meeting, issues regarding the airline, pharmaceutical, plastic, chemical, and personal care industries were on the agenda.
The commission also discussed irregularities in bilateral trade, including the issue of over-invoicing, and the application of exchange rates by airlines and businesses, reports EPA.
The meeting is a part of a series scheduled since diplomatic relations were restored on August 10 to address contentious issues between the South American nations.
Colombian President Juan Manuel Santos met with Venezuelan President Hugo Chavez in Santa Marta to renew the relationship. Venezuela had broken off diplomatic relations in the final days of Alvaro Uribe’s presidency following Colombian accusations that Venezuela was harboring Colombian insurgents.
After the re-establishment of ties, Venezuela announced that it would begin repaying the $800 million debt it owes to Colombia. Venezuela made the first payment of $70 million to the Colombian airlines Avianca and Aires
The bilateral meeting in Caracas came a day after Colombia’s Foreign Minister Maria Angela Holguin visited the Venezuelan department of Tachira, which borders the Colombian department of Maicao. She said Caracas and Bogota need to focus on “a long term relationship without ups and downs” even if each country has different political and economic ideas.
At the end of the month Holguin will meet with her Venezuelan counterpart Nicolas Maduro in the border region to continue the examination of bilateral agreements between the two countries.