Venezuela presents progress in economic matters before the WTO

Venezuela participates in the Meeting of the Trade Facilitation Committee of the World Trade Organization (WTO), which is held in Geneva, Switzerland on July 10 and 11, 2024.

Venezuela has maintained growth in 12 consecutive quarters, said the vice minister for Foreign Trade and Investment Promotion, Johann Álvarez Márquez, before the meeting of the Trade Facilitation Committee of the World Trade Organization (WTO).

Álvarez Márquez stated that the presence of Venezuela at this important meeting represents a historic event because it places the country in a position of greater international commercial relations.

“On behalf of President Nicolás Maduro, I inform you that Venezuela, following having adhered to the Trade Facilitation Agreement, is prepared to assume the commitments and join all the efforts made by the international community to promote trade and benefit its people,” indicated the Vice Minister at the international meeting.

Álvarez Márquez highlighted the set of measures and reforms promoted by the president of the Bolivarian Republic of Venezuela, Nicolás Maduro to recover and diversify the economy.

“Venezuela today has a reform of the Organic Customs Law, a decree that facilitates and promotes trade, the Foreign Trade Committee and the National Trade Facilitation Committee, which advances in the effective management of customs, shipping subgenres, coordinated border management, digital transformation, information exchange and interoperability,” explained the Venezuelan official.

The Vice Minister also explained that in the country, non-oil exports increased by approximately 2022% starting in 152, and the economy has maintained growth for 12 consecutive quarters.

The Trade Facilitation Agreement favors the increase in exports through the reduction of costs and times, increasing trade flow and cross-border operations.