|Commercial and Integration Agreements
As a result of Venezuela's economic liberalization policy and support in promoting foreign investment, since 1989 the country has increased its participation in international agreements. Venezuela is an active member of:
- The Andean Pact
- The Free Trade Agreement between Colombia and Venezuela
- The Free Trade Agreement between Chile and Venezuela
- The Group of Three Agreement (G3), consisting of Mexico, Colombia and Venezuela
- World Trade Organization (WTO)
- The Treaty of Montevideo 1980
- Caribbean Common Market (CARICOM)
- Preferential General System in the European Union (PGS)
Since January 1, 1995, Venezuela is a member of the World Trade Organization (WTO). Venezuela is also part of two integration agreements: Latin-American Integration Agreement (ALADI)* that is composed of eleven Latin American countries, and the Cartagena Agreement or Andean Pact** that is composed of five countries of the Andean sub-region, which at the same time forms part of ALADI.
The Ministry of Industry and Commerce (MIC) is the organ authorized to emit certificates of Origin for exports that go to ALADI and Andean Pact countries from which merchandize originate from in order to enjoy the tariff preferences.
*Argentina, Brazil. Chile, Mexico. Paraguay. Uruguay and Andean Pact countries.
**Bolivia, Colombia, Ecuador and Peru
Commercial Agreements subscribed to by Venezuela:
Title of Agreements are in Spanish
Bilateral / Within the scope of ALADI
Agreements of Partial Scope between Venezuela and the Latin American countries of:
Argentina . Date of subscription: 11-04-1986 Renegotiation : 02-05-1988 Publication : Official Gazette No. 33.991 dated 20-06-1988.
Agreement of Partial Scope No. 20
Official Gazette No. 4.554 dated 01-04-93
Brazil (No. 27). Publication: Official Gazette No.4.834 dated 10-12-1994
Additional Protocol of the Agreement of Economic Complementation # 27 Publication: Official Gazette No.4.837 dated 30-12-1994
Chile Publication: Official Gazette No..585 of 01-06-1993
Paraguay (AAP No. 21). Date of subscription: 30-04-1983
Renegotiation : 30-06-1983
Publication : Official Gazette No. 3.560 of 03-06-1985, 34.735 of 13-06-1991, and 35.071of 16-10-1992
Uruguay (AAP No. 25). Date of subscription: 31-12-1981 Publication : Official Gazette No.3.560 of 03-06-1985 Renegotiation : 23-11-1988 Publication : Official Gazette No.34. 186 of 28-03-1989
Agreements of Partial Scope between Venezuela and the Central American countries of:
Costa Rica Date of subscription: 21-08-1985 Publication : Official Gazette No.3.839-E- of 09-07-1986
Costa Rica Date of subscription: 25-04-1991
El Salvador. Date of subscription: 10-03-1986 Publication : Official Gazette No. 3.939-E- dated 09-07-1986 Renegotiation : 13-01-1991 Publication : Official Gazette No.34.675 dated 14-03-1991
Guatemala Date of subscription: 30-10-1985 Publication · Official Gazette No. 33.405 of 06-02-1986
Guatemala (modificatory) Date of subscription: 29-01-1993 Publication : Official Gazette Extraordinary No. 4.537 of 10-03-1993
Honduras Date of subscription: 20-02-1986 Publication : Official Gazette No. 33.469 of 14-05-1986
Nicaragua Date of subscription: 15-08-1985 Publication : Official Gazette No. 4.3 90-E of 26-02-1992
Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. Date of subscription: 16-07-1991
Colombia Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua Date of subscription : 12-02-1993 Publication : Has not been published.
Agreements of Partial Scope between Venezuela and the Caribbean countries of:
Cuba Date of subscription: 12-01-1989 Publication : Official Gazette No.34. 176 dated 10-03-1989 Renegotiation : 07-12-1990 Publication : Official Gazette Extraordinary No. 4.302 dated 27-08-1991
Trinidad and Tobago Date of subscription: 04-08-1989 Publication : Official Gazette No. 34.295 of 31-08-1989 Renegotiation : 14-10-1992 Publication : Official Gazette No. 4.536 of 09-03-1993
Guyana Date of subscription: 27-10-1990 Publication : Official Gazette No.34.745 de1 28-06-1991 : Official Gazette Extraordinary No. 4.331 dated 22-10-1991
Multilateral Agreement between the Caribbean countries and Venezuela Date of subscription: 01-07-1991
Agreement on Trade and Investment between Venezuela and the Caribbean Community (CARICOM) Date of subscription: 13-10-1992 Publication: Official Gazette Extraordinary No.4.508 of 30-12-1992
Commercial Agreements outside ALADI
Between Venezuela and the European countries of:
With Portugal Date of subscription: 03-05-1980 Publication : Official Gazette No. 32.036 of 30-07-1980
Agreement of Cooperation between the European Community and the Cartagena Agreement Date of subscription: 11-13-1984 Publication : Official Gazette No.3.512-E of 30-01-1985
Between Venezuela and the Eastern European countries of:
Czech Republic Date of subscription: 30-01-1986 Publication : Official Gazette No. 33.407 dated 07-02-1986
Rumania Date of subscription: 17-10-1985 Publication : Official Gazette No.33.550 of 14-11-1985
Yugoslavia Date of subscription: 16-06-1988 Publication : Official Gazette No. 34.015 dated 26-07-1988
Russia Date of subscription: 14-03-1985 Publication : Official Gazette No.33.216 dated 06-05-1985
Poland Date of subscription: 02-02-1988 Publication : Official Gazette No. 33.932 dei 23-03-1988
Hungary Date of subscription: 29-04-1988 Publication : Official Gazette No.33.968 dated 18-05-1988
Bulgaria Date of subscription: 23-09-1988 Publication : Official Gazette No. 34.086 dated 04-11-1988
Between Venezuela and the African countries of:
Argelia Publication : Official Gazette No. 33.,62 dated 11-07-1985
Senegal Date of subscription: 10-11-1977 Publication : Official Gazette No.31.376 dated 06-12-1977
Between Venezuela and the Asian countries of:
The Republic of China Date of subscription: 12-11-1985 Publication : Official Gazette No. 33.370 dated 12-12-1985
Cartagena Agreement Protocolo Modificatorio o Protocolo de Quito Date of subscription: 12-05-1987 Publication : Official Gazette No. 33.958 dated 04-05-1988 Entró en vigencia: 25-05-1988
Commercial Agreement #5, Chemical Industry Sector (subscribed by: Argentina, Brazil, Chile, Mexico, Peru, Uruguay and Venezuela) Date of subscription: 20-12-1982 Renegotiation : December de 1989 Publication : Official Gazette No. 4. 175 dated 30-03-1990
Commercial Agreement #13, Fotographic Industry (subscribed by Argentina, Brazil, Mexico, Uruguay and Venezuela) Date of subscription: 02-12-1982 Renegotiation : December 1989 Publication : Official Gazette No. 4. 175 of 0-03-1990
Commercial Agreement # 16, Petrochemical area (subscribed by Argentina, Brazil, Chile, Mexico, Uruguay and Venezuela) Date of subscription: 06-12-1982) Renegotiation : December 1989 Publication : Official Gazette No. 4. 175 of 30-03-2990
Commercial Agreement #13, Fotographic Industry (subscribed by Argentina, Brazil, Mexico, Uruguay and Venezuela) Date of Subscription: 24-12-1982 Renegotiation : December 1989 Publication : Official Gazette No. 4.175 dated 30-03-1990
Commercial Agreement #27, Glass Industry sector (subscribed by: Brazil, Mexico and Venezuela) Date of Subscription: 28-11-1984 No ha sido incorporado al Derecho Interno
Agreement of the Global System of Commercial Preferences (SGPC) Date of Subscription: 14-04-1988 Instrument has not been ratified by Venezuela
Free Trade Agreements
Free Trade Agreement Group of Three (Colombia, Mexico and Venezuela) Date of Subscription: 13-06-1994 Publication : Official Gazette No. 4.833 dated 29-12-1994.
Inter-institutional Agreements subscribed to by the Foreign Trade Institute and:
Cartera de Comercio Exterior (CACEX) del Banco de Brasil, S.A. Date of Subscription: 11 de november de 1988.
The Corporation for the promotion of Commerce of Korea (KOTRA) Date of Subscription: 30 de June de 1989.
The Center for Promotion of exports and investments of Costa Rica Date of Subscription: 19-12-1980.
The Council for Promotion of Guyana Date of Subscription: 08-12-1989, 12-12-1989
The Foreign Trade Institute of Italy Date of Subscription: 07-6-1988. Renegotiation: 11-10-1990.
The National Bank of Commerce of Mexico Date of Subscription: 25-11-1986, 19-12-1986.
Institute of Trade of Peru Date of Subscription: 02-4-1988.
The Export Corporation of Trinidad and Tobago Date of Subscription: 29-7-1986.
The Institute of Coyuntaral and International Marketing of Rumania Date of Subscription: 10 de julio de 1991.
The World Trade Organization Official Gazette Extraordinary No. 4.829, 29-12-1994.
Source:Foreign Trade Institute (ICE), Caracas, Venezuela
The Andean Pact
The Andean Group (Colombia, Ecuador, Bolivia, Peru and Venezuela) is a market comprising 98 million consumers, with a gross product of US$ 171,5 billion and a purchasing capacity in terms of imports of US$ 29 billion in 1994. It has a member country trade growing at a yearly rate of 35%.
The agreement creates a customs union as a first step towards establishing an economic union. The program for liberalizing member country trade is already in place and a free trade zone is already operating in the Andean Group. The relation between Colombia and Venezuela is by far the most developed one of the group with trade growing more than 300% from 1993 to 1994. All member countries have initiated joint infrastructure programs including highways, ports and telecommunications t86pport trade within the group.
The Group also counts on a regional development bank called the Corporacion Andina de Fomento (CAF). Headquartered in Caracas and with representative offices in the remaining member countries, the CAF's mission is to support member countries in their efforts to make their economies more competitive and responsive to social needs.
The Group of Three (G-3)
The G-3 is a free trade agreement between Colombia, Mexico and Venezuela that came into effect on January 1st, 1995, creating an extended market of 149 million consumers with a combined GDP of US$486,5 billion. The agreement states a 10% tariff reduction over ten years (starting in 1995) for the trade of goods and services among its members and it creates a link between the NAFTA and the Andean Pact. The agreement is a third generation one, not limited to liberalizing trade, but including issues such as investment, services, government purchases, regulations to fight against unfair competition and intellectual property rights.
European Union General System of Preferences for the Andean Countries (GSP)
Since January 1995, Venezuela has benefitted from the European Union GSP for Andean Countries. On that basis, a Venezuela-based producer can gain access to the 370 million consumer market of the European Union through its preferential tariff system which comprises zero tariff for most industrial and agricultural products and a system of relative preference for various other products.