Thursday, March 13, 2008

Doing Business in Venezuela: 2008 Country Commercial Guide
"In light of current conditions, particularly President Chavez' 2007 nationalizations of several sectors of the Venezuelan economy and anti-U.S. rhetoric, U.S. exporters to and investors in Venezuela are well-advised to perform their risk-return calculations carefully, mindful of the uncertainties, but aware of the opportunities in the Venezuelan market.

With a population of 27 million, Venezuela is the sixth most populous nation in Latin America.

The political relationship between Venezuela and the U.S. has cooled significantly and is characterized by harsh anti-U.S. rhetoric by President Hugo Chavez (elected 1998 and re-elected in 2000 and 2006).

The U.S. remains Venezuela’s most important trading partner, claiming more than half of Venezuela’s exports (primarily petroleum and petroleum products) and a quarter of imports."

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