A credit facility of about USD 220 million has enabled more than 120 Venezuelan firms to export commodities to Cuba, said State Minister for Integration Gustavo Márquez. The dealing line was established through the Foreign Trade Bank (Bancoex).

The goods for export include building materials, input, plastics, tiles and boots, the minister told official TV channel Venezolana de Televisión (VTV).

"This is the outcome of cooperation with Cuba in the context of the Bolivarian Alternative for the Americas (Alba). This results in demand of goods and services that they (Cuba) place in Venezuela and we open credit lines with Cuban banks, which buy Venezuelan goods from Cuba."

As stated by the minister, Bancoex credit portfolio increased by 29 percent in January-August 2006, over the same term last year.

Source: El Universal