A historic deal has been struck between Venezuelan President Nicolas Maduro and Trinidadian Prime Minister Keith Rowley. The heads of state announced energy initiatives that will boost natural gas exportation.
The two heads of state came to terms during a meeting held in St. Ann’s Trinidad and Tobago, on Monday.
“The historic nature the agreement will greatly benefit both countries,” according to Maduro’s twitter post. “Our peoples have a mutual interest in the gas fields and plan to utilize it to the fullest.”
Both countries should receive fast results, according to Maduro. Rowley also acknowledged that the venture would be beneficial to both countries. The deal, extremely lucrative by all accounts, will be sold on the international market.
The deal, if promoted right, has been predicted by expert Diaz Granados to have the potential to create a rotating $50 billion fund.
Trinidad and Tobago and Venezuela are both hurting economically. “We are hoping that the supply of goods will provide some much needed relief for our residents,” said Rowley.
Although details have not been made available, both countries are hoping that the deal will help with the supply of staple foods. All of the badly-needed priority items will be shipped to the countries as soon as possible, according to Trinidad & Tobago Trade Minister Paula Gopee-Scoon.
In addition to energy initiatives, security and commerce were also addressed. “Gangs are out of control in both countries,” said Maduro.