Colombia and Venezuela sign deal to revive trade

Colombian President Gustavo Petro and Venezuelan President Nicolas Maduro react during a meeting for signing the Partial Scope Agreement Number 28 that will resume bilateral trade between Colombia and Venezuela at the Atanasio Girardot International Bridge on the border between Colombia and Venezuela, in San Antonio del Tachira, Venezuela, February 16, 2023. Colombian Presidency/Handout via REUTERS

BOGOTA/CARACAS (Reuters) - Colombia and Venezuela on Thursday signed an agreement to revive trade between the two countries during a ceremony on a border bridge at which Colombia's President Gustavo Petro and Venezuela's President Nicolas Maduro both signed.

The deal "updates everything having to do with tariffs, with goods traded, (and) lays the foundations for a new dynamic, for the expansion of trade between Colombia and Venezuela," Maduro said at the event broadcast on Venezuelan state television.