The president of Consecomercio, José Gregorio Rodríguez, recently announced that the organization submitted a proposal to the U.S. Chargé d’Affaires in Venezuela, John Barrett, regarding a free trade agreement for the non-oil sector.

According to Rodríguez, during the meeting, “business representatives indicated that making progress on this matter is a high-impact objective for national economic activity because it is an issue that concerns us all.”

The proposed free trade agreement between the two countries seeks to establish a “bilateral framework focused on reducing tariffs on a variety of goods, thereby diversifying Venezuelan exports to the North American market, prioritizing products such as shrimp, seaweed, coffee, and cocoa.”

M.Pino

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During a virtual meeting of legal and governance specialists, the creation of the National Mining Management and Administration Agency (ANGAM) was proposed, along with a new Mining Law to resolve the current anarchy in the industry.

Participants in this meeting, coordinated by engineer Elías Matta, included lawyer Martha Acosta, a specialist in Mining Law; lawyer Verónica Barboza from George Washington University, with a Master’s degree in Strategy and Governance; and others.

One of the main aspects of this forum was the proposal to create ANGAM “as an autonomous institute” responsible for “managing and administering mining rights, coordinating the Public Mining Registry and the National Mining Cadastre, and clearly separating the regulatory (Agency) and oversight (Ministry) functions, eliminating the current conflict of interest and discretionary power.”

The speakers agreed that “the Venezuelan mining model must shift from a one-off contractual approach to a systemic model that involves a profound transformation of public policy.” Barboza emphasized the need to apply “international standards such as ESG (Environmental, Social, and Governance) and UNFC 2019.”

The experts addressed other aspects to consider, such as legal security and regional competitiveness, sustainability and combating illegal activity, and the economic potential of mining for the country. All these issues, carefully managed, could generate between $6 billion and $10 billion in revenue to boost the country’s development.

M.Pino

Source: elimpulso

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During the march this Saturday, April 13, called by the United Socialist Party of Venezuela (PSUV), the president of the nation, Nicolás Maduro, proposed reforming the Constitution to include life imprisonment for crimes such as corruption and treason. Likewise, he proposed political disqualification for life.

The current president and candidate for re-election in the elections on July 28 took the opportunity to make the statement during the call to remember 22 years since Hugo Chávez returned to power after a coup d’état registered on April 11, 2002.

He pointed out that “to reform the Constitution it takes the people, and that in that sense he called on the people to debate the issue. At the moment, it has not made a formal call to hold a referendum.”

With respect to the maximum penalty contemplated by Venezuelan laws, there is a sentence of 30 years in prison, as stated in article 44 of the Constitution, which states that “the custodial sentences will not exceed thirty years.”

With respect to political disqualifications from holding public office, “one of the ways to establish this sanction is through the Comptroller General of the Republic, which can issue these sanctions temporarily in the event of a final ruling.”

M.Pino

Source: CNN

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The European Commission has raised this Thursday the creation of a unified ethical body for the European institutions with the aim that the European Union has common standards in the operation of its main institutions, a step that comes after the scandal generated by the plot of bribes from Qatar and Morocco in the European Parliament.

In her presentation at a press conference from Brussels, the vice president responsible for Transparency and Values, Vera Jourova, stressed that the body will close the gap between “different and opaque standards”. “I want the standards to be high, clear and that they apply to all institutions,” he has defended.

The Brussels initiative refers to eight European institutions. In addition, from the European Commission itself, the measure is proposed to the European Parliament, the Council of the EU, the Court of Justice of the EU, the European Central Bank, the European Court of Auditors, the Economic and Social Committee and the Committee of the Regions, opening the door for other institutions such as the European Investment Bank to join the agreement once it enters into force.

In any case, the implementation of this body will require an inter-institutional agreement from all of them. That is why Jourova has convened a first political meeting of its leaders at the beginning of July that will serve to kick off the negotiations.

The idea is that the members of these EU institutions are subject to common, clear, transparent and understandable rules, in areas such as the acceptance of gifts, trips, prizes and decorations or transparency measures to hold meetings with representatives of lobbies, in a proposal to extend to other institutions the transparency registry that already operates in the European Commission, the European Parliament and the Council of the EU.

The newly minted body aspires to establish rules for a unified criterion on the declaration of interests and assets and the processes to follow in these declarations; to shed clarity on the external activities allowed for members of an institution and to set requirements and conditions for the activities of former representatives of the institutions once they leave office.

The rules established by this ethical body will be legally binding, and each institution will have to apply the standards in its internal rules, indicated Jourova, who has insisted that this includes the practical application of unified sanctions in cases of violation of the codes.

The ultimate goal, argued the Czech commissioner, is to promote a common ethical culture that makes it possible to improve transparency in the functioning of the institutions, both for its members and for the public.

Source: dpa

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The European Commissioner for the Economy, Paolo Gentiloni, has advanced this Monday that the European Commission expects to present at the end of June its proposal to make the digital euro a reality in international payments after a year of investigation by the European Central Bank (ECB).

“We are in the last preparatory phases”, confirmed the Italian commissioner at the press conference after the meeting of the eurozone Economy and Finance ministers, the Eurogroup, where the use of digital currencies by central banks was discussed.

The ministers have discussed, as explained by Gentiloni, “how the use of a digital euro in international retail payments can contribute to increasing the international role of the euro”, in the face of critical voices who warn that its implementation could threaten stability of  financial institution, such as the Bank of Spain.

“This can benefit trade relations, reduce exchange risks and, ultimately, strengthen our sovereignty,” he pointed out about some elements on which he has assured that the Brussels proposal will also focus.

For his part, the president of the Eurogroup, Paschal Donohoe, has assured that the digital euro is a “priority”, as evidenced by the recurring discussions on the matter that have been held by the ministers of the 20 euro economies in which the importance of international cooperation in*this*matter.

Source: dpa

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The European Commission plans to release on December 7 the draft of a new proposal for the payment of taxes in the crypto sector as a measure to prevent crimes such as tax evasion.

The Commission will establish a debate about the regulation of digital currencies in the area, which has been raised as necessary to prevent crimes such as tax evasion, money laundering and other actions that violate citizens’ assets.

It is estimated that from 2023 strict compliance regulations will be applied, which would be applied definitively from 2026. In this regard, the European Commissioner for Trade, Valdis Dombrovskis, pointed out: “The digitization of the economy is creating new opportunities; however, it has also exposed cracks in our tax systems.”

Faced with the challenges of this new era of digital finance, the European Commission will discuss aspects such as the application of a “single tax regime for cryptocurrencies in the 27 countries that make up the European Union”, beyond the sovereignty of each country in matters economic.

Parliament will have the task of studying the proposals to reach a consensus, at best, in February 2023.

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La entrada European Commission will present proposal on payment of taxes in the crypto sector apareció primero en Bitfinance.

Avior raises return of its flights to Colombia

Up to eight hours of travel and almost triple the normal cost of the ticket  must pay Venezuelans who need to travel to Colombia by air. “To travel between Venezuela and Colombia you must currently travel more than double the distance. Passengers must make at least one stopover, increasing travel time by more than three times”, explained Juan Bracamonte, executive president of the company, who reported on the proposed reactivation of commercial air traffic – which ceased on March 13, 2020 – after declaring the national emergency with the arrival of the pandemic caused by COVID-19.

The document was delivered this Monday to the Ministry of Popular Power for Foreign Relations; the Ministry of Popular Power for Transportation; the Colombian-Venezuelan Parliamentary Mixed Commission of the National Assembly; and the National Institute of Civil Aeronautics (INAC).

Before the air traffic restriction, in the last 5 years close to 1.6 million passengers were mobilized. “Avior Airlines has been part of the progressive reactivation of national and international flights carried out with total success by the authorities, and we are willing to contribute from the technical and human point of view our best efforts for a necessary and soon restart of activities,” he said. Bracamonte.

The businessman and senior aeronautical executive explained that the passenger’s search for travel alternatives has benefited the market of third countries, such as Panama and the Dominican Republic, to the detriment of the private and official national market. A market analysis – carried out by the airline with a view to a potential restart of operations between the two countries – estimates that in the next four years (2022-2025) 1,650,143 passengers could be transported between local and foreign companies, of which Avior Airlines estimates that it will attract approximately 702,855 users based on the progressive development of its operations.

Leader in the market

Before the suspension of operations between both countries, Avior Airlines developed a flight itinerary to connect the cities of Caracas, Valencia, Maracaibo, and Margarita, with the Colombian cities of Medellín, Bogotá, Cali and vice versa, occupying almost 80% of total market share.

The spokesperson assured that the corporation’s personnel and aircraft are ready and awaiting the green light from the national authorities to expand their destinations. ¨We are about to start flights to Barquisimeto and Puerto Ordaz from Caracas, and most likely El Vigía-Porlamar in direct flight, we will soon return to Mexico, via Cancun. Likewise, we will resume international operations from Barcelona to Santo Domingo, Dominican Republic, thus expanding the international options “.

Bracamonte reported that he does not rule out that meetings with the Venezuelan Foreign Minister will be held in Caracas in the coming days. “At Avior we are betting on the growth of the sector. It has not been easy in this time of a pandemic. We applaud the great effort that INAC has made during all these months for a safe and successful return that will benefit millions of Venezuelans.”

Juan Bracamonte, executive president of the airline, presented the petition to the Venezuelan authorities

Source: doblellave

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The Administration of US President Joe Biden will propose, within the framework of the United Nations Conference on Climate Change in 2021 (COP26) in Glasgow, a new regulation aimed at reducing methane emissions.

This project developed by the United States Government includes a series of regulations on drilling for oil and gas, as well as pipelines, a sector responsible for 30 % of emissions in the country, as detailed by the White House in a statement.

“By addressing methane emissions, stimulating innovations and supporting sustainable agriculture, President Biden announces bold steps that will boost America’s clean energy economy and create well-paying jobs,” they said from Washington.

Thus, the Environmental Protection Agency (EPA) addressed a series of notes related to the production of gas and oil in such a way that it will propose to expand and strengthen the existing regulations on new facilities, at the same time that it will ask the states of the countries that develop plans to reduce emissions from existing facilities.

According to the Government, with these new regulations the EPA seeks to reduce methane emissions by approximately 75 %, while reducing the presence of compounds that form haze and generate toxicity in the air.

The aforementioned White House statement also recognizes the attempts of the Department of the Interior to penalize the release or burning of excess gas, for which it will propose a regulation that requires oil and gas drillers to pay fees to the Government for what is released or burned.

Source: dpa

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