CARACAS, WILLEMSTAD – Venezuela’s evolving political and economic landscape could open the door to renewed and stronger commercial ties with Curaçao, Aruba and Bonaire, according to Felipe Capozzolo, president of the Venezuelan Federation of Chambers of Commerce and Production (Fedecámaras).
In an interview with Curaçao Chronicle, Capozzolo said Venezuela is currently undergoing a complex process of transformation that includes political change, economic evolution and shifting social expectations. While the political process continues to unfold, he noted that economic and social dynamics are already moving at a faster pace.
Felipe Capozollo receiving a gift from Curaçao Chronicle editor Aldrich Hermelijn
“At this moment in Venezuela there is a dynamic of transformations and evolution,” Capozzolo explained. “First there is a political transformation that practically determines everything. Then there is an economic evolution that is moving much faster than the political process, and finally there is a social change in the expectations and attitudes of people that is advancing even faster than the other two.”
Despite this momentum, he stressed that future developments depend largely on institutional changes within the public sector. For that reason, he recommends caution and close observation of the ongoing developments.
Restoring ties with the ABC islands
Capozzolo emphasized that Venezuela hopes to restore commercial relations with as many countries and markets as possible, and that the relationship with the ABC islands remains especially important.
“You define Venezuela as one of your principal markets, but for us the ABC islands are also an important market,” he said. “They serve as an important channel for agricultural products and agro-industrial goods.”
He believes there is significant potential for both sides to rebuild and strengthen trade flows, particularly in the supply of Venezuelan agricultural products to the islands.
According to Capozzolo, one of the key priorities should be the development of a more efficient and transparent logistics system that facilitates trade between Venezuela and the islands.
“We could make joint efforts to create an integrated logistics system that is agreed upon and efficient, allowing us to place more Venezuelan agricultural products on the islands and restore a dynamic exchange of goods and the movement of people,” he said.
Complementary economies
Capozzolo repeatedly emphasized the concept of economic complementarity between Venezuela and the ABC islands. While Venezuelans may continue to travel to the islands, he believes trade could balance the relationship through greater exports of goods and supplies from Venezuela.
“There may be more Venezuelans traveling to the islands than people from Curaçao coming here,” he said. “But we can compensate for that by exporting more Venezuelan products, raw materials and supplies, particularly from our food industry.”
He described complementarity as the key principle for rebuilding economic ties.
“I believe the word complementarity applies very well here,” he said.
Support from business organizations
Capozzolo also highlighted the role played by the Chamber of Commerce in La Vela de Coro, which has been instrumental in facilitating trade between Venezuela and the islands in recent years.
“Without a doubt the Chamber of La Vela has played an important role in facilitating this process,” he said.
However, he stressed that business organizations alone cannot drive the process.
“There must be institutional support from public authorities,” he said. “Organizations like Fedecámaras and the regional chambers are willing to contribute and facilitate trade, cooperation and investment, but certain decisions must come from government authorities.”
Export-oriented Venezuela
According to Capozzolo, Venezuela is gradually developing a stronger export-oriented mindset, driven partly by the economic challenges the country has faced in recent years.
He pointed to new legislation currently under discussion aimed at simplifying export procedures, as well as a broader national effort to encourage exports and diversify the economy.
“Our country is developing a vocation for exports,” he said. “And Curaçao also has a natural vocation to offer tourism as a destination for Venezuelans.”
Regional cooperation
Capozzolo suggested that the Caribbean region could benefit from a broader zone of shared interests that includes the ABC islands, Venezuela and possibly other neighboring countries such as Trinidad and Tobago.
“Our history unites us, geography unites us, and in many cases even family ties unite us,” he said.
He added that Curaçao’s links to the Netherlands and Europe also create opportunities for broader international connections.
“You connect with Europe through the Netherlands, while Venezuela is here in the Americas,” he said. “There are many ways we can complement each other.”
A new economic model for Venezuela
While Venezuela hopes to restore economic strength, Capozzolo emphasized that the country does not want to simply return to the old oil-dependent model.
“In the past we were a country completely dependent on oil,” he said. “Now we want to use oil as one element of the economy while building a more diversified economic model for the future.”
In that context, relations with the ABC islands could play a strategic role.
He also suggested that tourism and energy cooperation should be approached through collaboration rather than competition.
“Instead of competing, we should look for ways to complement each other,” Capozzolo said. “Together we can become a destination for tourists from all over the world, not just a destination for Venezuelans.”
Looking ahead
Although he cautioned that Venezuela’s transformation will take time, Capozzolo expressed optimism about the country’s long-term prospects and the potential for stronger regional partnerships.
“At the end of this process we want a stronger, more diversified Venezuelan economy,” he said. “And the relationship with the ABC islands can be a very important part of that future.”