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