Venezuelan ruler Nicolás Maduro Thursday announced he had signed a series of bilateral agreements during his meeting with Russian President Vladimir Putin in Moscow. The cooperation accords are on mining, oil, telecommunications, weapons and food.
The defence industry is booming in Latin America amid economic growth and greater concerns regarding national security, said the renowned security and defence consultancy firm IHS Jane's. Imports of weapons soared 16% in the subcontinent in 2008-2012, climbing from 3.42 billion to 3.96 billion dollars annually, the firm said in a report called The Balance of Trade.