Chavez proposes to set up association of Latin American countries

Moscow, June 29 (UNI) Vising Venezuelan President Hugo Chavez today proposed to create an association of Latin American countries, to rebuff the external pressure, mainly from the United States.

''We ought to form an association of Latin American countries because we in South America need two poles of forces in order to put an end to economic and political pressure from the outside, from countries that think they have the right to establish the world order,'' Chavez said addressing a business forum at the Russian Chamber of Commerce and Industry.

He said the establishment of a South American bank will help unite nations that are building independent economies, adding that proposals regarding the creation of such an institution are being discussed.

The Venezuelan President said he would like to see Russian business expand its presence in his country, especially in the oil and gas sector.

''We are satisfied with the presence of Russian oil companies in Venezuela and will do all we can to ensure that this cooperation develops successfully,'' he said.

Chavez held talks with Russian President Vladimir Putin yesterday at the presidential residence at Novoogaryovo, outside Moscow. He also officially inaugurared the Bolivar Centre, named after the South American revolutionary leader.

During his talks with Putin, Chavez, using his trademark anti-US rhetoric, stressed the importance of defying Washington's dominance of global affairs, including cultural.

''The empire must understand that it cannot dominate the world,'' RIA Novosti news agency quoted him as saying.

UNI