Business in Venezuela Caracas. Venezuelan economy foreign trade

Course summary Business in Venezuela:

Economic profile of the states of the Bolivarian Republic of Venezuela. Doing business in Caracas. Case: CANTV.

Venezuelan economy

Venezuela is rich in mineral resources, although it is best known for its hydrocarbons, and rightly so given that it ranks fifth in the world in oil reserves and seventh in natural gas. The country is rich in agricultural, animal husbandry, fishing and forestry resources

Venezuela’s main trading partners are the United States, Colombia, Mexico and Brazil.

Caracas (2,000,000 people) is the constitutional capital of the Bolivarian Republic of Venezuela. Caracas is considered the seventh most influential financial center of Latin America (behind cities such as Sao Paulo, Bogota, Santiago de Chile, Buenos Aires, Mexico City and Rio de Janeiro). Caracas is estimated that generate 19 percent of GDP in Venezuela. Caracas is the 21st most expensive city in the world. Important Venezuelan companies like "Petroleos de Venezuela" (PDVSA), or CANTV, has its headquarters in Caracas.

Example of the course Business in Venezuela (English):

Maracaibo (Zulia state capital) has a population of 3 million people (second largest city in Venezuela). Main economic activities in Maracaibo are the exploitation of oil.

Carabobo State is one of the most vibrant of Venezuela. Its industry and agricultural production are among the largest in the country. The main economic activity of Carabobo State is industrial manufacturing (automotive, metalworking, chemicals, agribusiness, food and consumer goods).

La Guaira (Vargas State) is the most important gateway to Venezuela; the Port of La Guaira is one of the major Venezuelan ports.

"Petróleos de Venezuela S.A"., the state-owned corporation of the Bolivarian Republic of Venezuela, is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and commerce of hydrocarbons. Nowadays, PDVSA keeps a solid presence abroad through 5 offices located in Argentina, Brazil, Cuba, The United Kingdom and Holland.

CANTV ("Compania Anonima Nacional Telefonos de Venezuela") is the leading provider of integrated telecommunications services in Venezuela. As at 31 March 2007, CANTV had approximately 3.6 million lines in service, 8.2 million mobile subscribers and 528,000 broadband subscribers.

International Economic Relations. Venezuela is member of: Association of Caribbean States (ACS), Latin American Integration Association (ALADI), Union of South American Nations (UNASUR), Latin American and Caribbean economic System (SELA), Bolivarian Alternative for the Americas (ALBA), Economic Commission for Latin America (ECLAC), Inter-American Development Bank (IDB), Forum for East Asia-Latin America Cooperation (FEALAC), Summit of South American Arab Countries (ASPA), Organization of American States (OEA), World Bank, IMF, World Trade Organization (WTO), United Nations

Adhesion of the Bolivarian Republic of Venezuela to MERCOSUR. In July 2006 it signed the Protocol of Accession of Venezuela to MERCOSUR. The entry of Venezuela to the bloc will occur gradually.

Venezuela has an Economic Complementation Agreement with Chile

Venezuela is composed of 23 federal states and a capital district (Caracas). Venezuela borders Brazil, Guyana and Colombia.

Example of the course (Business in Venezuela - Spanish):

Business, Venezuela, Caracas, Venezuelan, economy, foreign, Trade, Economic, profile, states, Bolivarian, Republic, Doing business, Case, CANTV