"We want to [launch the corridor] in the nearest future. On March 15 we had a video conference with all the village councils of Latin America. They are not bureaucrats and they want to work and cooperate, they have already given plans of what they need. Russian Agricultural Bank has already joined this project," Frolenko said.
Frolenko listed three options of the routes from Russia as Sevastopol, Saint Petersburg and Novorossiysk.
"The route is very good. If it's Sevastopol, we take 21 days, if Saint Petersburg, nearly 19 days. For all types of goods this route is very favorable," Frolenko added.
The transport corridor will go to Puerto Cabello in Venezuela, Frolenko stated.
"In Venezuela it is Puerto Cabello, a very big and interesting port, because it has a grain terminal with capacity of 250 thousand tonnes and capacity for expansion. We already have a project to extend this terminal. There is also a terminal for liquid and dry fertilizers storage. And there is a platform to put agricultural machinery. We were provided with a terminal for sunflower oil storage. Establishing this corridor has been underway for a long time already," Frolenko said.
Late last year, Venezuelan Foreign Minister Carlos Faria told Sputnik that trade between the countries had been complicated due to the sanctions imposed by Western countries, but had not become impossible. The parties are already finding ways to continue cooperation, he added.