AKIPRESS.COM - U.S. automaker Ford will resume operations in Venezuela in two weeks as an agreement has been reached on access to adequate amount of foreign currency, Xinhua reported.

Venezuelan Transport Minister Haiman El Troudi said that Ford will be allowed to purchase U.S. dollars through a special auction and import vehicle parts with the money.

The Venezuelan Taxes Authority will set up a schedule to grant tax credits to Ford for around $50 million.

The National Center for Foreign Commerce, which controls the country's foreign currency administration, will grant $20 million to Ford this week so that Ford can pay off this year's debts to providers.

Ford is one of the several foreign automobile companies in Venezuela that halted production as a result of a lack of foreign currency to import parts for assembly.