The Venezuelan Minister of Light Industry and Trade, Maria Cristina Iglesias, has announced that Venezuela is pulling out of the Community of Andean Nations (CAN).The pullout would be "a long process" of about five years, she said, adding that Venezuela's relationship with other CAN members -Colombia, Peru, Ecuador and Bolivia - would remain unchanged.
CAN regulations stipulate that exiting countries must respect for the next five years all customs and trade agreements signed with other member states.
Venezuelan President Hugo Chavez, blames CAN's collapse on Colombia and Peru, both of which have signed free trade agreements with the United States.
