LatinNews Daily - 15 September 2022

In brief: Calls for greater clarity on Colombia-Venezuela trade relations

* Business representatives and think tanks in Colombia and Venezuela have expressed concern over a lack of clarity on trade relations after the planned reopening of the border on 26 September. The concerns were raised at a virtual event organised by the Cámara de Integración Económica Venezolana Colombiana (Cavecol), a business lobby pushing for closer economic ties between the two nations. Carlos Augusto Chacón, the director of the Colombian think tank Instituto de Ciencia Política Hernán Echavarría Olózaga (ICP), warned that “we don’t know with clarity what has been planned… you have to define the framework of relations, if Venezuela is leaving Mercosur [the Southern Common Market trade bloc, from which Venezuela is currently suspended] and rejoining the Andean Community, or if there will be a free trade agreement between both countries.” He said that more information is required to provide legal security and prevent market uncertainty. The Venezuela-Colombia border has been closed to vehicle traffic since 2015, but is set to fully reopen later this month following a diplomatic rapprochement initiated by Colombia’s new President Gustavo Petro.

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