Bolivian Textile Exports to Venezuel Drop 50 Percent During The First Eight Months

The exports of textiles produced by Bolivian entrepreneurs to Venezuela have decreased by 50 percent during the first eight months of the current year, due to election and change of government in Venezuela, according to the National Chamber of Exporters of Bolivia (CANEB), Los Tiempos reported.

The textile and apparel exports from Bolivia to Venezuela declined to US$ 15 million in January-August 2013, compared to exports of US$ 30 million made during the corresponding period of last year, CANEB president Guillemo Poumont said.

He said that at its peak, Bolivia exported textile and garments up to US$ 50 million to Venezuela.

He attributed the decrease in exports to Venezuela to administrative problems and policy issues related to the general election and the subsequent inauguration of Nicolas Maduro as Venezuelan President.

Between February and August this year, the trade links were temporarily closed due to general election and the change of government in Venezuela, he said.

Mr. Poumont expressed hope that the trade, especially textile trade, relations with Venezuela will normalize in the coming months, after the visit of Bolivian Deputy Minister for Internal Trade and Export Luis Fernando Baudoin to Venezuela this month.

Earlier in May this year, Bolivia and Venezuela signed an agreement to boost textile sector cooperation and to develop the textile sector of both countries.

As per the deal, new centers, with facilities to use innovative technologies, are to be set up to aid the textile sectors of both countries.

The agreement was subsequently approved by the National Assembly of Venezuela in August this year.