Venezuelan President Hugo Chávez and his Colombian counterpart Álvaro Uribe entered into a Joint Declaration to advance layout of an oil pipeline from eastern Zulia state to the Pacific across Colombian territory.

President Uribe reiterated Chávez "Colombian political willingness to accept the layout by Venezuela of the oil pipeline from production sites to the Colombian Pacific in order to facilitate exports from a Colombian port to all over the Pacific and, of course, eyeing the Asian markets."

During the meeting held Thursday by both rulers in Paraguaná Refining Center, eastern Falcón state, it was agreed that the project "will have also in Colombia some stations that will add value and for the purposes of improving the fuel."

Uribe reported that the sale of the Colombian stake in a fertilizer manufacturer located in the Colombian city of Baranquilla was discussed to find if Venezuela will exert the preemptive right on such sharing.