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Economic relations

Economic relations

Venezuela is an important partner for France, especially because of our companies’ investments on site, estimated at EUR 1.36b in stock, which makes us one of the country’s top five investors. Our partnership is based on an agreement on reciprocal promotion and protection of investments (API), which came into force in April 2004 and will be valid until 2019.

French exports to Venezuela amounted to EUR 387M in 2011, while Venezuelan exports to France accounted for EUR 303M (63% energy products). The coverage rate for our imports in 2011 was 127% (no change compared with 2010). Our market share remains small, ranking 17th among Venezuela’s partners (2010 classification), certainly below its potential. The main areas of investment are oil, gas, transportation, chemistry, and pharmaceuticals.

Our major groups are well established in the country (Alstom, Total, Air France, L’Oréal, Sanofi-Aventis, Pernod-Ricard, and Lactalis) and our technological know-how is recognized.

Updated on : 01.08.12

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All rights reserved - French Ministry of Foreign Affairs and International Development - 2014