SIMIC

RUSSIAN and Venezuelan officials are collaborating to establish a joint shipping enterprise to enhance trade between their heavily-sanctioned countries, reports Fort Lauderdale's Maritime Executive.

The proposed route may include the Russian-controlled Sevastopol port, which would offer a pathway for exchanging food and industrial products.



"The Venezuelan side is interested in expanding the volume of mutual trade," said Crimea chairman Vladimir Konstantinov.



"Crimea is ready to supply grain, wine, chemical products, bromine production, electrical appliances, welding equipment, ships . . . [and] Venezuela is ready to supply coffee, cocoa, meat, seafood, and southern fruits to Crimea. To this end, the participants of the meeting supported the idea of creating a joint Russian-Venezuelan shipping company."



Russian-Venezuelan Chamber of Commerce head Roman Frolenko also stated that a transport corridor between the two nations could be up and running by early summer.



"We calculated trade turnover somewhere in the range of $300 million a month, without oil," said Mr Frolenko.



"Puerto Cabello is a very big and interesting port because it has a grain terminal with capacity of 250 thousand tonnes and room for expansion. We already have a project to extend this terminal."