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  • Ricardo Menendez at a video conference in Caracas, Venezuela, August 4, 2020

    Ricardo Menendez at a video conference in Caracas, Venezuela, August 4, 2020 | Photo: Twitter/ @rmenendezp

Published 5 August 2020

The post-pandemic era will create opportunities to change local production processes.

At a videoconference with the Economic Commission for Latin America and the Caribbean (ECLAC), Venezuela's Planning Minister Ricardo Menendez explained that his country is proposing a new economic model for the development of Latin American countries.


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"Strengthening policies for fostering local economies and new urban productive dynamics must also be one main topic in our region," he said.

Menendez stressed that the post-pandemic's new normality is an opportunity to promote innovation in the global economy and that Venezuela's development model prioritizes life and health despite the U.S. blockade.

The Planning Minister also presented the idea of a revolving fund for public purchases in the United Nations System, through which Latin American countries could access food and health products.

In addition, the Bolivarian official proposed other measures such as the relocalization of productive chains and the creation of a "bank" of free technologies and knowledge.

The Planning Minister also insisted that the international community must demand the suspension of unilateral sanctions against Venezuela and other countries. In times of a pandemic that continues to spread, this is necessary to guarantee the right to health.

Despite the difficult circumstances generated by the Trump administration's bullying, Venezuela continues to work towards achieving its development objectives.

For this, the Bolivian nation has the solidarity of countries such as China, Cuba, Russia, Iran, and Turkey, Menendez recalled.

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