The Bolivarian Republic of Venezuela is located in the most northerly part of South America, bordered to the north by the Caribbean Sea, to the east by Guyana, to the south by Brazil and to the southwest and the west by Colombia. Its surface area is 912,050 sq.kms and the country has nearly 31,83 million inhabitants and a GDP close to US$98,5 billion (source: FMI, 2018).
Venezuela is the fifth largest economic power in Latin America. Its economy is essentially based on natural gas and oil, of which it is a major producer. Venezuela is a founding member of OPEC (Organization of Petroleum Exporting Countries). The United States is Venezuela’s largest economic and trading partner (no. 1 customer for oil), followed by China, Brazil, Colombia and Argentina.
France also participates in the Venezuelan economy by investing in oil and gas developments. Economic and trade relations between the two countries are mainly concentrated around the hydrocarbon, electricity or urban transport sectors for the major dominant groups. It is also worth noting the presence of a handful of independent contractors and SMEs.
In order to meet the needs of its customers on the Venezuelan market, Simon Associés has developed privileged relations with economic and legal partners locally.