Venezuela’s ongoing economic transformation could significantly reshape commercial relations with Curaçao, Aruba and Bonaire, according to business leaders in the South American country.
Felipe Capozzolo, president of Fedecámaras, says Venezuela is gradually moving toward a more diversified economic model after decades of heavy dependence on oil.
For much of the twentieth century and early twenty-first century, Venezuela’s economy was dominated by petroleum exports. That model created enormous revenues but also made the country vulnerable to fluctuations in global oil prices.
Today, Capozzolo argues that Venezuela must build a broader economic base.
“In the past we were a country almost completely dependent on oil,” he said. “In the future we want oil to be only one element of a diversified economy.”
Part of that diversification strategy involves strengthening exports in sectors such as agriculture, food production and light manufacturing.
For the Caribbean region, this shift could open new opportunities for trade.
The ABC islands have historically served as important commercial partners and logistical gateways for Venezuela. Curaçao in particular has long functioned as a hub for trade, tourism and energy-related activities.
If Venezuela successfully expands its agricultural and industrial production, nearby Caribbean islands could become natural markets for those goods.
At the same time, Curaçao and Aruba maintain strong links with Europe through the Kingdom of the Netherlands, which could potentially provide Venezuelan exporters with indirect access to broader markets.
Capozzolo believes that regional economic cooperation will be essential for long-term growth.
Rather than focusing solely on bilateral trade flows, he suggests that Venezuela and the Caribbean could build a broader network of economic cooperation.
“Our geography, our history and our interests connect us,” he said. “We should look for ways to complement each other.”
Such cooperation could involve coordinated tourism strategies, trade agreements, logistics development and energy partnerships.
For the ABC islands, developments in Venezuela will continue to be closely watched, as economic recovery in the neighboring country could have significant regional implications.