"It has to be a commission that quickly, peremptorily, begins to offer proposals to be consulted with the people of Venezuela on the fundamental issues that are the priority today," Jorge Rodriguez, president of the Assembly, said on Thursday.
The commission will initially be made up of legislators, but later be opened to public participation, reports Xinhua news agency.
It will be led by Rodriguez, while opposition party deputy Luis Eduardo Martinez and ruling coalition deputy Francisco Torrealba will be the organisation's vice presidents.
The assembly also approved the creation of a Special Commission for Investigations of Actions Perpetrated against the Republic.
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