Venezuelan President Nicolás Maduro has proposed an early election for the National Assembly under the leadership of the opposition leader Juan Guaidó.
Maduro addressed his followers in Caracas and did not set a date for the vote, which is currently scheduled for late 2020.
The National Assembly was overthrown because its Socialist Party lost control of it in 201
Mr Guaidó, as provisional President, declared himself in January that the re-election of Mr Maduro last year was unlawful.
At a rally one year after his controversial victory, the President said, "Let's hold elections. [for the National Assembly] Let us find [have] a peaceful solution, elective, democratic, constitutional."  Mr. Maduro, whose re-election was overshadowed by a boycott of the opposition and allegations of electoral fraud, added, "We are going to compete as voters … we will prefer elections to the National Assembly."
Crowd of his supporters walked on the street of the capital, many wore red T-shirts and wore "March for Victory" banners.
Also on Monday, the National Constituent Assembly, set up by Mr. Maduro in 2017, after his party lost control of the National Assembly, decided to extend its functions until the end of 2020.
The panel consists exclusively of members of the government loyalists, whose powers should replace those of the National Assembly, which was originally to last two years.
What is the background?
Mr. Maduro and Mr. Guaidó have been in dispute since the opposition leader declared himself interim president. On the grounds that last May's vote was neither free nor fair.
Mr Guaidó, who says the President is a "usurper", has called for a new presidential election. He has been recognized as interim leader by more than 50 nations, including the US and most in Latin America.
Last month, he led a failed attempt to trigger a military uprising against Maduro. Since then, several of its allies have been arrested and the Supreme Court has indicted 14 opposition legislators for crimes such as treason and conspiracy.
Maduro accuses Guaidó of being part of a US-orchestrated coup d'état against his government. He retains the support of the highest ranks of the military and its allies, including Russia, China and Turkey.
During the Maduro administration, the economy collapsed, food and drug shortages widened and more than four million people left the country. Opponents accuse Maduro of maltreating the economy of the oil-rich nation, saying that the country is the victim of a US-backed economic war.