Russia and Venezuela reaffirm cooperation agreement for the use and exploration of space

This Wednesday the Lower House of the Russian Parliament, reaffirmed in session the cooperation agreement with Venezuela, on the peaceful use and exploration of space.

The agreement signed on March 30, 2021, proposes to create the legal and organizational bases that foster mutual and beneficial cooperation for both countries; as well as organizations involved in the exploration and use of space for peaceful purposes.

The State Duma, after debating in session this Wednesday, explained that the agreement also proposes a commercial basis such as «attracting additional extra-budgetary funds to the national rocket and space industry”, as reports the TASS news agency.

On the specific conditions and financial obligations related to cooperation programs and projects will be defined in separate contracts concluded by the participants in joint activities.

The cooperation between the two nations will make it possible to promote services with competitiveness in the global space services market, in addition to providing national organizations of the space and rocket industry with additional capacity for use and employment.