After several years of frosty relations with a greatly reduced trade as a result, Venezuela and Colombia have now formally resumed their diplomatic relations, TT reports.
Colombia’s new ambassador Armando Benedetti arrived in Caracas on Sunday, and in a clip he says the countries’ relations should never have been severed.
– We are brothers and a made-up line can never separate us, he says.
Many aggravating factors
But it is not certain that the trade of the South American neighbors will pick up at the pace that many had hoped for. Although the shops in the border towns have prepared by building up stocks and planning events, the border opening has not gone as quickly as many had hoped. In addition, the black trade has increased, which can be difficult to push back.
Limited import capacity
Venezuela’s economy has shrunk and the country’s import capacity is limited, the country’s Chamber of Commerce emphasizes. This has led to consumers not having as much purchasing power as before. With trade down, Maduro signed trade deals with political allies such as Iran and Turkey, and it is now unclear how this will affect the situation.
– I worry when I hear people say that they want to strengthen both countries’ current trade relationship, because unfortunately these are informal relationships. What we want to rebuild are formal relations, with equal conditions for all, without setbacks, says Tiziana Polesel, head of the Venezuelan Chamber of Commerce.
Refused to recognize the re-election
The countries’ frosty relationship emerged in 2019 after former Colombian President Iván Duque refused to recognize the re-election of Venezuela’s embattled President Nicolás Maduro. But when Colombia’s new left-wing leader Gustavo Petro won the presidential election in June, both countries decided to reopen their respective embassies.