A delegation of Brazilian executives met with Venezuelan authorities in Caracas this week to present products and services in the hope of taking advantage of a wave of economic recovery in the country. An Itamaraty initiative, the venture identified opportunities in oil and gas, animal protein exports and other sectors.
The mission was led by ambassador Alex Giacomelli, responsible for the Secretariat for Commercial Promotion, Science, Technology, Innovation and Culture (SECIC) at Itamaraty. Giacomelli held meetings with the Vice President of Venezuela for the economic area, Calixto Ortega, the Minister of Foreign Trade, Johann Álvares; the Minister of Hydrocarbons, Paula Henao; and Chancellor Ivan Gil. In total, around 90 meetings were held.
As an example of an opportunity identified by Brazilian companies, Itamaraty mentions the possibility of installing thermoelectric generators in specific points in Venezuela, to allow the government and companies located in the country to explore oil in these locations.
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The venture brought together representatives from 10 sectors: oil and gas, automotive, auto parts, pharmaceuticals, plastics, machinery, meat, poultry, rice and pulses. Entities such as FIESP, ANFAVEA, ABIEC, ABPA, INP (National Plastic Institute), Sindipeças, IBRAFE, ABIARROZ, IBP (Brazilian Institute of Oil and Gas) and ABIMAQ participated.
Estevão Carvalho, representative of the Brazilian Animal Protein Association (ABPA), stated that the meetings helped to advance conversations that were already held with Venezuelan companies in search of new business opportunities.
— Our sector, both poultry and pork, is very internationalized. We export to more than 150 countries. Companies are always in contact with customers and potential customers. This was a prospective mission to bring people closer together and bring understanding to what Venezuela is going through. Brazil, in the past, has already exported chicken, pork and poultry genetic material, essential for local production, to Venezuela, and in recent years, there has been a huge drop in trade.
The visit comes in the wake of efforts by the Lula government to deepen bilateral economic ties after years of Venezuelan trade stagnation. Itamaraty intends to organize new similar missions in the future, covering companies that have a direct interest in the Venezuelan market.
In total, bilateral trade totaled around US$837 million last year, below the peak of US$5.1 billion recorded in 2008, according to data from the Brazilian Ministry of Development, Industry, Commerce and Services.
Patrícia Gomes, director of Foreign Trade at the Brazilian Association of Machinery and Equipment Industry (Abimaq), states that the mission to Venezuela is part of an initial movement to understand how the country has been reorganizing its productive structure, especially in the industrial, agricultural and oil sectors, the latter of which is of direct interest to the entity. According to her, Venezuela was once a relevant market for the sector. In 2012, shipments totaled US$831.4 million. In 2025, this volume fell to US$64.1 million.
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— This approach takes place so that, when there is a possible recovery, the sectors are prepared. The objective now is to have a closer reading of what is happening in the country. There are still many undefined points for the resumption of trade, but the Brazilian government thought it would be a good idea for us to follow (this agenda) to be prepared for an eventual resumption.
Patrícia highlights that, since last year, Abimaq has been resuming contact with the Venezuelan private sector, which demands, above all, agricultural equipment, such as tractors and harvesters. The strategy, according to her, is to maintain presence and dialogue so that Brazil is remembered when bilateral trade normalizes.
“Venezuela was once an important trading partner for Brazil,” said Julio Ramos, director of Strategic Affairs at Abiec to Bloomberg. “Therefore, we see this moment as an opportunity for a new beginning — a new chapter in relations between Brazil and Venezuela, particularly with regard to Brazilian beef.”
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