Venezuela, economy recovers despite the impact of blockade

teleSUR English

*Picadilly Corp. face hurdles due to U.S. blockade *Authorities reaffirm the BRICS cooperates with the country *Pres. Putin deems his counterpart Maduro will enrich the BRICS *Joining the BRICS is a major achievement for the country *The country’s geopolitical and energy impact are key for Global South cooperation

Transcript

00:00And the invitation of President Barack Putin to his counterpart Nicolás Maduro to the

00:04next BRICS summit generated expectations in Venezuela with the likely entry of the country

00:09to the Organization of Emerging Countries.

00:10Let's see the details in the following coverage from Caracas with our correspondent Ignacio

00:14Lemus.

00:15The Venezuelan economy recovers despite being hit by the blockade for years.

00:21The central bank announced that the country achieved 13 quarters of economic growth and

00:25the GDP ramped up from 8.40% to 8.78% in the first quarter of 2024.

00:33I think the trend is upwards.

00:35Let's hope that by 2025 our economy improves even more, that we surge our economy even

00:41more and that Venezuela be more developed.

00:45There are still challenges in the process of economic reactivation.

00:49The Piccadilly company trades locally produced shoes imported from southern Brazil.

00:53Its owner refers to the hurdles imposed by the blockade, such as the need to triangulate

00:58the maritime transport of the merchandise so that it arrives from a neighboring country.

01:04The merchant ship has to instead of sailing along one sea, which is this one, it has to

01:09travel on another sea and has to transship in Cartagena and that represents more cost

01:14on the freight side, not more on the shoes, but on the freight, and it implies more time

01:19to reschedule the orders.

01:21It is a month and a half, a month and 10 days for the merchandise to arrive.

01:25When in the past, if it came by this sea in 10 or 11 days, the merchandise was here.

01:32New routes of international cooperation are open for Venezuela.

01:35President Nicolás Maduro was invited to the BRICS summit in the Russian city of Kazan

01:39on October 23 and 24.

01:41According to Foreign Minister Iván Gil, the country is already in the organization's

01:45orbit.

01:46We have the support of all the BRICS members.

01:49I was in Russia a few months ago and met with all the foreign ministers, with the 10 foreign

01:53ministers of the BRICS.

01:55We have noteworthy support for Venezuela to work with the BRICS, in fact.

01:59We are already working, our ministers are attending meetings of the BRICS.

02:03We are participating in the commissions, we are participating in the exchange of information.

02:09Russian President Vladimir Putin deems that Maduro's participation will enrich debates

02:13and help identify promising areas of multilateral cooperation.

02:18For Venezuela, as for many countries globally, the strengthening of the BRICS and joining

02:22the BRICS would bring multiple benefits, first of all, full inclusion into a new dynamic

02:27of international economic relations based once again not on the exploitation of the

02:31population, but on cooperation, on the development of all in a world of equals and, secondly,

02:37in a much safer world.

02:40The entry of Venezuela into the BRICS Plus means a leap over the barriers imposed by

02:44the blockade and the possibility of opening trade to an organization that comprises 45%

02:48of the global population.

02:50Well, it'll be very positive because Venezuela will be able to export everything we produce

02:57here and not necessarily with the US currency, the US dollar.

03:01We can export with our own currency and that will be an advantage for Venezuela, both for

03:06importers and exporters, a leverage for Venezuela and it will further be paramount for our region

03:11since Brazil and Venezuela, if they are in that connection with the BRICS, it will be

03:16very crucial.

03:19Venezuela's impact on geopolitical and energy matters turns out to be a fundamental factor

03:23for cooperation in a group of countries of the global south that is growing rapidly towards

03:27leadership and world trade.

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