JBIC signs cooperation pact with Andean regional bank.

TOKYO, March 10 Kyodo

The Japan Bank for International Cooperation  (JBIC) signed on Wednesday a business cooperation pact with Corporacion Andina de Fomento (CAF), a Venezuela-based bank for economic development of the Andean region, the governmental bank said.

Under the accord, JBIC and CAF will exchange information for increasing trade between Japan and the Latin American and Caribbean region and to promote Japanese investment in the region, Japan's main foreign aid agency said.

The Latin American and Caribbean region has close relations with Japan as many Japanese businesses operate production bases there, which is ''endowed with abundant natural resources, including oil in Venezuela and iron ore in Brazil,'' JBIC said in a statement.

CAF was established in 1970 with a mission to facilitate financing for economic development and integration among the Andean countries of Bolivia, Colombia, Ecuador, Peru and Venezuela.

The bank now has a membership of 16 countries, mostly from the Latin American and Caribbean region.