In a historic event, Venezuela and Colombia signed an understanding memorandum to promote a Binational Economic Zone of Peace, Unity, and Development. The agreement, signed in Caracas by Venezuelan Vice President Delcy Rodríguez and Colombian Minister of Commerce Diana Marcela Morales, seeks to strengthen relations between the two countries and benefit border communities.
The memorandum, promoted by Presidents Nicolás Maduro and Gustavo Petro, establishes the foundation for economic and social integration in areas such as trade, industry, and tourism. Rodríguez emphasized that this agreement reflects the will of both governments to overcome historical differences and work for the well-being of their people.
During the ceremony, the Executive Vice President emphasized that this pact seeks to revitalize the border with projects that drive economic growth. «It is a zone of peace, unity, and development in key sectors,» she stated, mentioning the joint work with authorities from North Santander (Colombia) and states Zulia and Táchira (Venezuela).
The senior Venezuelan official also highlighted the rebound in bilateral trade, which exceeded $1.2 billion in 2024, after a sharp decline during Iván Duque’s administration. This growth, she stated, demonstrates the success of Petro and Maduro’s policies to strengthen economic relations.
For her part, Minister Morales emphasized that this agreement opens a new era in regional integration, with projects in energy, gas, water, and food. Colombian Chief of Staff Alfredo Saade added that this pact honors the legacy of Simón Bolívar and Hugo Chávez, seeking social and economic transformation in the region.
This memorandum marks a milestone in the bilateral relationship, aiming to consolidate sustainable cooperation in multiple sectors. With this step, Venezuela and Colombia reaffirm their commitment to Latin American integration and the joint development of their peoples.