Venezuela

EU relations and cooperation with Venezuela are carried out on a regional and bilateral basis.

At regional level, relations are ongoing within the framework of the institutional dialogue between the European Union and the Rio Group. Until April 2006, relations were also conducted under the framework of regional relations with the Andean Community. However, following Venezuela’s decision to leave the block and join Mercosur, Venezuela participates as an “active observer” in the political dialogue between EU and Mercosur. Full membership in this regional organization depends upon ratification by Mercosur.

Trade between the EU and Venezuela remains an important subject of relations. Venezuela has a privileged market access to the EU via the Generalised System of Preferences.

The Country Strategy Paper [542 KB] adopted in 2007 outlines the main axes of financial bilateral cooperation with Venezuela. For 2007-2013, two specific sectors have been identified:  1. support to the modernization of the State and its institutions and 2. diversification of the economy. The latter aims to provide assistance towards diversification of the country’s economy in  order to provide equitable and sustainable economic growth. The mid-term review [156 KB]  (and summary [42 KB] ) of the CSP has been adopted on the 18th May 2010.