LatinNews Daily - 31 March 2022

In brief: Venezuela and India move to shore up trade ties

* Officials from Venezuela’s trade ministry have met with representatives from India’s embassy in Caracas in an effort to strengthen trade rations between the two countries. According to a Venezuelan trade ministry statement, “the meeting served as a platform to promote bilateral trade between both nations, especially in the textiles, pharmaceutical and small business sectors”. It cites Venezuela’s deputy trade minister Daniel Gómez as saying that India sees the Venezuelan market as an ideal destination for its exports, with around 85% of medicines dispensed in Venezuela coming from India. He said that the trade balance could increase from US$120m to US$200m a year annually in the pharmaceutical sector alone.

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