Global India business forum presented H.E. Alberto A. Guani, Ambassador of venezuela, and Embassy of
venezuela.
Ambassador and Consul General
INDIA - VENEZUELA BUSINESS & CULTURAL COUNCIL
Global India business forum presented H.E. Alberto A. Guani, Ambassador of venezuela, and Embassy of
venezuela. We had a fruitful discussion to collaborate GIBF and venezuela to explore different business
opportunities and trade between two countries. Global President- GIBF Dr. Jitendra Joshi and Director -
Global Operations Deepali Gadkari attend the meeting.
Crude petroleum, packaged medicaments, cars, broadcasting equipment, and
pesticides.
ABOUT
ABOUT VENEZUELA
Venezuela is a country on the northern coast of South America with diverse natural
attractions. Along its Caribbean coast are tropical resort islands including Isla de
Margarita and the Los Roques archipelago. To the northwest are the Andes Mountains and
the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas,
the capital, is to the north
BUSINESS OPPORTUNITIES
BUSINESS OPPORTUNITIES IN VENEZUELA
According to World Economic Forums Global Competitiveness report for report for 2019, Venezuela
stands 133rd out of 141 countries. World Banks latest Ease of Doing Business report rated
Venezuela as 188 out of 189 economies. Following are the advantages of investing in Venezuela –
Abundant nature reserves, particularly the oil sector The privatisation of ports and airports is
a good business opportunity for foreign investors Agri-food industry (coffee, tropical fruits,
rice, tobacco, cocoa, alcoholic beverages) Automobile industry and audiovisual production
EXPORTS AND IMPORTS IN VENEZUELA
In 2020, Venezuela was number 118 in total exports, number 122 intotal imports, and the
number 105 most complex economy according to the Economic Complexity Index (ECI).
According to IMF Foreign Trade Forecasts, the volume of exports of goods and services
decreased by 50.1% in 2020 and fell by an estimated 20.8% in 2021, while the volume of
imports of goods and services decreased by 19.5% in 2020 and declined by an estimated
5.3% in 2021.
TOP EXPORTS OF VENEZUELA
Venezuela mainly exports crude petroleum ($2.62B), iron reductions ($276M), acyclic
alcohols ($208M), refined petroleum ($181M), and crustaceans ($136M) to India ($2.03B),
China ($464M), Malaysia ($387M), Spain ($302M), and Italy ($184M).
TOP IMPORTS OF VENEZUELA
The country imports mainly refined petroleum ($942M), corn ($310M), rice ($248M), raw
sugar ($180M), and soybean oil ($158M) from China ($1.52B), United States ($1.09B),
Brazil ($782M), India ($758M), and Turkey ($236M).
