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Venezuela gets US$16.13m in prospects at TIC

Wednesday, July 9, 2014

State-run Venezuela Exporta programme concluded its trip to T&T with more than US$16.13 million in “business intentions” between Venezuelan and T&T importers, state news agency AVN reported. This was the result of its four days at the Trade and Investment Convention (TIC) 2014 at the Centre of Excellence, Macoya.



The sectors that generated the most interest among T&T investors were construction, with US$7.2 million in business planned; packaging, with US$3.2 million; information technology, with US$2.86 million; and health, with US$1.62 million. AVN said the South American country views the strengthening of non-oil relations with T&T as important because this country is a gateway to Barbados and Jamaica.


Venezuela won the best pavilion award at TIC, beating Brazil, Cuba, Haiti, the Dominican Republic, Canada and the United States. Venezuelan Trade Minister Dante Rivas was at the opening ceremony and hailed the opportunity as invaluable as it opens a window for Venezuela’s exportable products. Trade Minister Vasant Bharath applauded the participation of the visiting countries and highlighted that Venezuela and T&T have to face the challenge of oil economies trying to grow other sectors.


Venezuela Exporta is a creation of the Foreign Trade Bank of Venezuela, best known by its Spanish acronym, Bancoex. The agency said 40 Venezuelan companies offering over 450 export-quality products were at TIC. Apart from the trade show, participants also benefit from having established channels for direct business meetings. The visit to T&T was part of a programme that began in San Salvador June 25–27, when more than 70 participating Venezuelan companies firmed up US$18.27 million in deals.


Since Venezuela Exporta started on July 8, 2013, in Montevideo, Uruguay, the project has travelled to Guayaquil, Ecuador; Santa Cruz, Bolivia; Bogota, Colombia; Havana, Cuba; and Manaos, Brazil, with US$91 million in intended transactions, AVN said. The next top is Cochabamba, Bolivia from today to July 12.


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