An August directive by Venezuelan President Hugo Chavez to “reduce to zero” bi-national trade with neighbouring Colombia has begun to bite, with imports from the neighbouring country falling dramatically. Chavez issued the directive in protest against a military agreement signed between Bogotá and Washington allowing US military troops access to Colombian bases. According to a report by Colombia’s National Department of Statistics, exports to Venezuela fell 49.5% in September. Trade between the two countries is expected to decline even further, after Venezuela imposed a blockade on Colombian agricultural products.

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Venezuelan Vice President and Defence Minister Ramón Carrizales claimed on Sunday that he had evidence that a group of Colombians who were kidnapped and assassinated a week earlier in Venezuelan territory were part of a “paramilitary infiltration plan” that aimed to destabilise the socialist government of President Hugo Chavez.

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In November lastyear, at the third extraordinary Summit of Heads of State and Government of theBolivarian Alternative for the Peoples of Our America (ALBA) - Peoples' TradeAgreement (TCP), the presidents came together with the intention to confront thecrisis of the global capitalist system.

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Brazilian President Luiz Inacio “Lula” da Silva met in Venezuela with President Hugo Chavez on Friday to evaluate the progress of bilateral development projects, in particular accords related to Venezuela’s industrialization, production of soy, and entrance as a member in the Common Market of the South (MERCOSUR)

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