The Governments of the Bolivarian Republic of Venezuela and the Republic of Liberia have signed two separate agreements aimed at promoting bilateral and economic cooperation between both countries.

According to a Foreign Ministry release, one is a Memorandum of Understanding, while the other is a Framework Agreement of Cooperation which shall be carried out in the development sectors of Energy, Agriculture, Economy, Social, Cultural, Education, Health as well as other areas identified by common agreement between the two countries.

At the ceremony which took place at the Robert L. Johnson Resorts in Kendeja, Paynesville City at the weekend, Foreign Minister, Dr. Toga Gayewea McIntosh signed on behalf of the Liberian Government; while His Excellency Enrique Fernando Arrundell James, Ambassador Extraordinary and Plenipotentiary of the Bolivarian Republic of Venezuela to Liberia signed on behalf of his government.

Under the Agreement, the parties shall promote and intensify cooperation on the basis of the principles of equality, mutual respect of sovereignty and reciprocity of advantages in accordance with their respective domestic legislations and of this Agreement.

The two Governments also agreed to create a Joint Cooperation Committee responsible for the application and a follow-up to this Agreement. The committee shall be composed of representatives from both governments to be presided over by the Foreign Affairs Ministers of both countries or by representative they have appointed. The Committee shall meet, alternatively every two (2) years in the Bolivarian Republic of Venezuela and Liberia on the dates mutually agreed on by the parties. The Joint Committee may create work groups in different development areas established in the agreement in order to direct cooperation between the Parties.

As part of efforts to increase and strengthen relations of friendship and cooperation between both countries, the two governments have agreed to hold consultations on a regular basis on a number of matters regarding the development of bilateral and multilateral cooperation in areas of politics, economy, culture, sciences, technology, education, sports, and humanitarian aid, among others.

Under the agreement, the two governments shall seek the establishment and development of direct bonds between the State Institutions and Organizations of the two countries.

The permanent representative of both countries to the United Nations and other international bodies shall remain in regular contact and hold consultations regarding matters of common interest.