CFK, Chávez sign YPF, PDVSA cooperation agreement

After attending a Mercosur meeting in Brasilia, President Cristina Fernández de Kirchner and her Venezuelan counterpart, Hugo Chávez, signed a cooperation agreement to develop a strategic energy plan between state oil companies YPF and PDVSA.

The bilateral summit took place in the Argentine embassy in the Brazilian capital. 

After signing the accord, Fernández assured that the Mercosur “should aspire to become the fifth global economy behind the US, China, Germany and Japan.”

Fernández and Chávez met after a Mercosur summit in which Venezuela officially became a part of the regional trading bloc.