Venezuela has signed an agreement with Belize's state oil company to begin shipping refined petroleum products like gasoline, jet fuel and diesel to the Central American country, state-run Petroleos de Venezuela (PDVSA) said.

The accord was signed Friday and came as PDVSA also signed a maritime shipping accord with Cuba to prepare for stepping up fuel shipments in the Caribbean, PDVSA said in a statement.

Venezuela, the world's fifth largest oil exporter, has said it will accept services and goods such as rice or bananas as partial payment. The first shipment of 15,000 barrels of diesel was to leave Venezuela's Isla Refinery in Curacao on Sunday to be sent to Belize, PDVSA said.

The agreement, signed by Chavez and Cuban Transport Minister Alvaro Montero, calls for using the fleets of PDVSA and Cuba, although it also leaves open the possibility of incorporating ships from other companies, PDVSA said.

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