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August 16, 2022
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Venezuelan unions will travel to Colombia to propose renewal of the trade agreement

Venezuelan unions will travel to Colombia to propose renewal of the trade agreement

Next Thursday, August 18, representatives of the business sector of both countries and figures from the Colombian government will meet in Cúcuta, Colombia to discuss the conditions under which binational commercial activity will be reactivated.


With the upcoming reactivation of commercial relations between Colombia and Venezuela as a result of the new government administration of Gustavo Petro, businessmen from both countries are beginning to think about how to recover that commercial dynamic that both countries maintained a decade ago.

One of the priorities in this rethinking of the operation between the two countries is to review the Partial Scope Agreement of a Commercial Nature (AAPC) No. 28, in force for trade between the two countries since 2011.

With the intention of rethinking the terms and conditions of the commercial relationship, a group of business associations and government authorities on the matter will hold a meeting in the city of Cúcuta, Colombia, next Thursday, August 18.

The initial proposal was made by the president of the Venezuelan Association of Exporters (AVEX), Ramón Goyo, who proposed to renegotiate AAPC No. 28.

*Also read: Cavecol positively values ​​the initial rapprochement of Petro’s Colombia with Venezuela

His idea is to develop an economic complementation agreement in which both countries grant tariff preferences to all products traded on that border, except for those goods that are considered “sensitive” for the economies of these countries.

Another point put on the table by the AVEX representative is the use of tax relief schedules, to reduce existing taxes and increase the attractiveness of investments.

The ideas raised by AVEX were discussed with a significant portion of the country’s business sector and the unions that represent it, such as the National Confederation of Industrialists (Conindustria) and various sectoral chambers. In addition, the president of Fedecamaras, Carlos Fernández, will be present at the meeting.

On the part of Colombia, border chambers and the Minister of Commerce, Industry and Tourism, Germán Umaña Mendoza, who has experience in the field of the border for his management as trade union representative between both countries, when he was president of the Colombo Chamber, will participate. Venezuelan (CCV).

«He is a great connoisseur of the border issue and has extensive experience in the business associations of both countries; At Avex we celebrate and look forward to this meeting that undoubtedly marks a new era in the bilateral relations of both nations”, explained Goyo in statements collected by The opinion.

From AVEX they hope that a new commercial agreement will finish exploiting the exportable potential of Venezuela, since the country has an exportable supply of about $4,400 million that is not being used.

“In all these areas, Venezuela has unused installed capacity. If we direct this production to exports to Colombia, we will do so under the figure of highly reliable suppliers with the aim of strengthening the commercial relationship,” Goyo stressed.

business opportunity

The state of trade relations between Venezuela and Colombia is at its lowest point after all the restrictions imposed for political reasons since 2015.

Although there is currently a window for trade through ‘La Raya’, a road that connects the Venezuelan state of Zulia with the Colombian department of La Guajira, 60% of trade was traditionally carried out through the border bridges that connect Táchira with Norte de Santander, which have not provided services for more than six years.

*Also read: College of Engineers awaits permission to inspect border bridges with Colombia

Thanks to this situation, in 2021 Venezuela and Colombia exchanged merchandise for a value of just $393.7 million, which is equivalent to only 5.4% of the $7,211 million that were traded at the end of 2008.

Through reactivation, it is projected that binational trade could close this year with a figure of $1.2 billion. However, it will be essential to speed up the pace to make up for lost time and define the conditions for this new stage in trade relations between the two countries as soon as possible.


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