Asuncion, February 12 (RHC) -– Paraguayan Foreign Minister Eladio Loizaga will travel to Venezuela Thursday to meet with his counterpart, Elias Jaua, according to MercoPress news agency.

Loizaga will be received by Jaua at the Foreign Ministry or Yellow House, and the issue of MERCOSUR, currently chaired by Venezuela, is at the top of the list.

The two ministers are also scheduled to address Paraguay's 300 million dollar oil bill to PDVSA, Venezuela's government oil company, and which Asunción would like to defer in several installments until 2023, according to statements from the Paraguayan minister of Industry Gustavo Leite.

Formally, the event is a diplomatic reciprocity for Jaua's visit to Paraguay last October 9th, when the two countries re-established full relations.

Paraguay and Venezuela have have now exchanged ambassadors, since political tensions in 2012 led to both countries downgrading their bilateral relation.