A merchandise truck crosses the SimĂłn BolĂvar bridge from Colombia to Venezuela during the border reopening ceremony on September 26, 2022. Photo: EFE/Carlos Ortega.
According to the Venezuelan-Colombian Chamber of Economic Integration (CAVECOL), trade between Colombia and Venezuela saw a significant boost, with a 76% increase compared to last year. Moreover, Venezuelan exports to Colombia more than doubled during the same period.
CAVECOL president Luis Alberto Russián stated in a recent interview that trade between Colombia and Venezuela increased from $106 million in 2022 to $187 million in 2023 – an increase of 76%.
“Trade grew by 76%, and in the same period, exports grew 150%, but we have to keep working,” Russián stated. He added that the increase is mainly due to the growth of Venezuelan exports to Colombia, which rose from $17 million to $42 million in 2023.
Russián explained that Venezuelan exports through the border state of Táchira consist principally of laminates, iron, coal, and glass containers, while imports from Colombia consist mostly of tiles, medical supplies, and raw material for footwear.
Regarding Zulia, another border state, its primary exports consist of scrap metal, dry coconut, and aluminum. In terms of imports, the main items include confectionery, chemical and laminated products, cardboard boxes, lactose, and fructose.
The president of CAVECOL further explained that the operations of the three customs offices in Táchira have experienced an increase, along with a rise in the number of goods vehicles reaching 1,400 in May.
According to Russián, the key factor that has facilitated bi-national trade between Venezuela and Colombia is the implementation of the Partial Scope Agreement 28. The agreement modified access conditions and tariff preferences for Venezuelan exports in Colombia.
Additionally, the two countries agreed to conduct biannual reviews to evaluate trade flow and make necessary adjustments.
Venezuela’s Oil Production Continues to Grow, as Does US Consumption
Russián emphasized that these results are the outcome of a “transition and adaptation process” following the changes in pertinent laws and the restoration of diplomatic and economic relations between the two countries, which took place after Gustavo Petro assumed the presidency of Colombia in August 2022.
“The truth is that when you change the conditions of access, you are trying to increase bi-national trade through greater facilities,” he said. “This implicates not only the tariff issue but also technical and quality standards and the time necessary for administrative procedures.”
He expressed optimism for the future of trade between Venezuela and Colombia and added that CAVECOL will continue working to promote economic integration between the two countries.
On June 18, Freddy Bernal, governor of the Venezuelan state of Táchira, emphasized the gradual reactivation of trade between Colombia and Venezuela. He pointed out that the number of goods trucks entering Venezuela from Colombia has been increasing steadily: in January, 120 trucks crossed the border, a figure that rose to 450 in April and further spiked to 1,200 in May.
(RedRadioVE) by Ana PerdigĂłn
Translation: Orinoco Tribune
OT/SC/KZ/BLA
