Venezuela Export Products Fair and B2B Program Commences Under the Auspices of the Türkiye Exporters Assembly
The Venezuela Export Products Fair and B2B Program commenced with a ceremony held at the Türkiye Exporters Assembly Foreign Trade Complex, attended by representatives from the business communities of Türkiye and Venezuela.
The opening ceremony of the Venezuela Export Products Fair and B2B Program was held with the participation of Minister of Trade Prof. Dr. Ömer Bolat, Venezuela's Minister of Foreign Trade Coromoto Godoy Calderón, Chairman of the Türkiye Exporters Assembly Mustafa Gültepe, and business representatives from both Türkiye and Venezuela. Speaking at the ceremony held at the Türkiye Exporters Assembly Foreign Trade Complex, Chairman Gültepe expressed great pleasure in hosting the high-level delegation from Venezuela at the hub of Türkiye's export operations.
“There is strong resolve for the $3 billion target”
Gültepe noted that relations between Türkiye and Venezuela have gained momentum in recent years through high-level visits, emphasizing that President Recep Tayyip Erdoğan's visit to Caracas and Venezuelan President Nicolas Maduro's visit to Ankara have significantly deepened the friendly ties. Gültepe stated, “The Trade Enhancement Agreement, which entered into force in 2020, has had a positive impact on our economic relations.”
Sharing figures regarding the foreign trade volume between the two countries, Gültepe remarked that the trade volume, which peaked at $1 billion in 2022, stood at $665 million in 2024. He stressed that while the $3 billion foreign trade target remains distant, there is strong determination to achieve it.
“Distance cannot hinder determination”
Recalling the approximately 10,000-kilometer distance between Türkiye and Venezuela, Gültepe asserted, “When there is mutual goodwill and shared resolve, distance loses its significance.” He highlighted Türkiye's role as a strategic bridge between East and West and Venezuela's position at the heart of Latin America, underlining the great potential these geographies hold for cooperation.
Drawing attention to Venezuela's investment models offered through special economic zones, Gültepe expressed that fruitful collaborations can be established in these areas based on a win-win principle. On the financial side, he conveyed his belief that cooperation between Venezuela's Foreign Trade Bank Bancoex and a Turkish trade bank could yield new opportunities. Gültepe added, “We approach trade cooperation with Venezuela from a long-term perspective. We believe that today's gathering will pave the way for lasting partnerships.”
“Venezuela has become one of Türkiye's most important trade partners in South America”
At the opening ceremony, Minister of Trade Prof. Dr. Ömer Bolat also underscored the significance of the event, noting that this organization is being held in Türkiye for the first time. Recalling that two fairs had previously been held in Caracas, Bolat announced that another fair would be organized in Caracas in November.
Pointing to the rapid progress in Türkiye-Venezuela economic relations in recent years, driven by the vision and contributions of the two countries' leaders, Bolat stated:
"Venezuela has now emerged as one of Türkiye's most important trade partners in South America, and we are highly optimistic about the future. The leaders of both countries have tasked us ministers and businesspeople with the goal of achieving an annual foreign trade volume of $3 billion. God willing, we will attain this in the medium term. Although our current bilateral trade volume stands at $665 million, Türkiye has much ground to cover within Venezuela's total imports of $15 billion. Likewise, Venezuelan firms have the potential to secure considerable market share within Türkiye's $350 billion goods import market. All we need to do is work diligently—and indeed, we are."
“More than a fourfold increase achieved in six years”
Bolat shared, “We have nearly completed all regulatory agreements between us. We have a Free Trade Agreement, an Agreement on the Avoidance of Double Taxation, and also an Agreement on the Promotion and Protection of Investments. Once internal approval processes are finalized on both sides, these agreements will come into force in a very short time.”
Reminding that the total trade volume between the two countries was $152 million six years ago, Bolat noted that this figure has risen to $665 million as of 2024, representing more than a fourfold increase. He stated, “If we maintain this momentum, God willing, achieving the annual target of $3 billion within a few years will be within reach.”
“We are here to celebrate the beginning of the path to unity and shared prosperity”
As part of the ceremony, high-level representatives from Venezuela also addressed the participants. Opening remarks were delivered by Deputy Minister in Charge of Venezuela's Export Promotion, Daniela Cabello. This was followed by statements from the Commercial Representative of the Republic of Venezuela, Randolf Briceno, and Minister of Foreign Trade Coromoto Godoy Calderón, who all emphasized the significance of economic cooperation between the two nations. Calderón remarked, “Today we are gathered not only for the Venezuela-Türkiye Trade Fair but also to celebrate the beginning of the path to friendship, unity, and shared prosperity between two brotherly nations. The people of Venezuela regard their brother Türkiye as a role model.”
Throughout the two-day event, businesspeople and public officials from Venezuela will hold one-on-one meetings with their Turkish counterparts to explore opportunities for cooperation. The Venezuela Export Products Fair will remain open to visitors until the evening of Tuesday, June 17.