Economic relations

For France, Venezuela is an important partner, especially because of investments made by our companies on site. Our partnership is based on an agreement for promoting and mutually protecting investments, which came into force in April 2004.

French exports to Venezuela amounted to €355 million in 2008, while Venezuelan exports to France amounted to €270 million (74% energy products). The coverage rate for our imports in 2008 was 131% (compared to 72% in 2006). Our market share remains slightly above 1% (1.25% in 2007, making France Venezuela’s 16th largest supplier). In terms of flows, in recent years, France has been the second largest investor in Venezuela (behind the United States and ahead of Spain). The main investment areas include oil, gas, subways, chemistry, and pharmaceuticals.

Our major groups (Alstom, Total, Accor, Air France) have significant facilities in the country and our technological expertise is acknowledged.

^{Updated on : 27.07.11}