Venezuela's government established the Socialist Market Corporation (Comerso), which will be the distribution channel of products manufactured by socialist government plants, and enterprises seized from the private sector, as well as products manufactured by communes.
Comerso will be attached to the Ministry of Trade and will be based in Caracas. It will establish subsidiaries, branches, offices and representative offices throughout the country, and even outside Venezuela.
For the establishment of the new government-run socialist retail chain, the Executive branch of government has allocated USD 23.25 million, which will be managed by a board composed of a president, a vice president and three directors.
Oil Scenario
HYDROCARBONS Rafael Ramírez, Venezuela's Minister of Petroleum and Mining and president of state-run oil company Petróleos de Venezuela (Pdvsa) specified that oil exports to China would be equal to current shipments of Venezuelan oil to the United States.
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