Colombia may be ready to buy Venezuelan Monomeros – Finance Minister According to Reuters

© Reuters. FILE PHOTO: Colombian Finance Minister Jose Antonio Ocampo speaks during an interview with Reuters in Bogota, Colombia August 2, 2022. REUTERS/Vannessa Jimenez/File Photo

BOGOTA (Reuters) – Colombia may be ready to buy Venezuelan fertilizer producer Monomeros, Finance Minister Jose Antonio Ocampo said on Wednesday, at a time when higher fertilizer prices contribute to inflationary pressures.

Although Monomeros is headquartered in the Colombian city of Barranquilla, it is owned by Pequiven, a unit of Venezuelan state oil company PDVSA.

The government of Venezuelan President Nicolas Maduro regained control of Monomeros’s board in mid-September, after a few years it was controlled by opposition leader Juan Guaido.

“On the fertilizer issue, I said we are willing to do anything, including here, to buy Monomeros and expand it significantly,” Ocampo said at an event with coffee growers. coffee in the Colombian capital Bogota.

The recent changes to the management of Monomeros come at a time when relations between Colombia and Venezuela – especially economic and military cooperation – have been strengthened following the election of Colombian President Gustavo Petro.

Meanwhile, Ocampo asked the Ministry of Mines and Energy to reveal that Colombia’s reserves have increased 20 years, compared with 8 years earlier.

“That gives us the tremendous ability to be a fertilizer producer and even a gas exporter, which we never had before,” Ocampo said.

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