Venezuela, Italy launch new trade talks:
"NOV. 28 6:32 P.M. ET Venezuela and Italy inaugurated a bilateral trade council Monday aimed at strengthening financial, commercial and technological ties.
Venezuela's Minister of Integration, Gustavo Marquez, said an estimated US$600 million (euro511.68 million) worth of trade was under discussion by the new council.
Venezuelan and Italian business representatives were exploring joint projects in transportation, mining, agriculture, tourism and energy over the next two days, Venezuelan Foreign Minister Ali Rodriguez said.
Venezuelan President Hugo Chavez said a potential train project was being discussed.
Marquez said he believed Venezuela had received unfair credit ratings from the European Union by being dubbed too risky, which had impeded the flow of investment.
He said Italy is the second largest trade partner with Venezuela after Spain among European Union member states.
The Venezuelan-Italian Council consists of government officials, delegates from Milan's Chamber of Commerce and representatives more than 40 Italian and Venezuelan companies. The idea evolved during an April meeting in Rome on ways to fight poverty, Rodriguez said.
The council will meet every six months."
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