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VENEZUELA - The End of Free Trade

* VENEZUELA

The End of Free Trade
Minister Eduardo Samán laid the groundwork for a Marxist model at a business forum

Trade Minister Eduardo Samán unveiled at a business forum President Hugo Chavez's Economic and Social Development Plan, which will change the guidelines related to domestic and foreign trade. There are five principal elements: development of trade production; social control of the means of distribution; state price regulation and the replacement of consumerism with satisfying essential necessities. The chavista government will only approve foreign investment which ensures the transfer of technology to industry. "Not all are beneficial and bring progress to society's well being", Samán said, who added: "Don't be afraid when I speak of Marxism. It is the only system which does not exclude". Some who attended the forum expressed their concerns to the press saying that, as it is planned, the Venezuelan bill eliminates free trade.
Jul-10-2009 02:07pm