A multisector delegation organized by Brazil's Ministry of Foreign Affairs traveled to Caracas to explore the resumption of beef exports to Venezuela, a market that imported as much as 160,000 tons of Brazilian beef and generated US$ 852 million in revenue in 2014 before trade virtually collapsed in mid-2015 due to the Caribbean nation's economic crisis.
The mission included business meetings between companies from both countries to discuss trade and investment opportunities. Falling oil prices and US sanctions deepened Venezuela's economic crisis and abruptly disrupted trade flows with Brazil.
Julio Ramos, Director of Strategic Affairs at the Brazilian Beef Exporters Association (ABIEC), took part in the mission and emphasized the strategic importance of the Venezuelan market. "Venezuela was once a major market for Brazilian beef and remains a strategic country," he said, while acknowledging that the sector has tended to focus on distant markets at the expense of regional opportunities.
