Raphael John-Lall
Energy, telecommunications and transport are some of the sectors of the economy that T&T and Venezuela are collaborating on.
Venezuelan Ambassador to T&T, Álvaro Sánchez Cordero gave details of the business and trade relationship between the two countries during his speech at Venezuela’s 213th Independence Day celebrations held on July 5 at Angostura House, Eastern Main Road, Laventille.
The most important project that both countries are working on now is the exploration of the cross-border and near-border gas fields between T&T and Venezuela, about which Sánchez spoke about “rapidly advancing” negotiations.
“In terms of energy, I would like to underscore the signing of the agreement for the exploration and exploitation of the non-associated gas from the Dragon field in October of 2023, as well as the issuing of a license for the said exploration and exploitation of non-associated gas to the National Gas Company (NGC) in December of 2023. Equally, negotiations between both countries are rapidly advancing for the exploration and exploitation of the non-associated gas from the joint field of Cocuina – Manakin.”
In transport, he said Venezuela and T&T are regaining their connectivity.
“Right now, there is a new Venezuelan shipping company, Playa Patanemo, partly owned by the Venezuelan State and partly owned by the private sector, which commenced travel this year between Güiria and Chaguaramas, bringing both passengers and cargo. In this regard, Venezuela stands ready to assist T&T in maritime transport. In September of last year, the Venezuelan cargo vessel La Emprendedora was sourced to service the inter-island sea-bridge while the MV Cabo Star ferry went under repairss.”
Flights to Venezuela have also resumed as he said two Venezuelan airlines, Rutaca and Venezolana, are now flying from Piarco to Margarita Island on charter flights; thus, strengthening not only connectivity but tourism links.
Energy relations
Foreign and Caricom Affairs Minister, Dr Amery Browne, who also spoke at the Venezuelan Independence Day celebrations, said both countries have had a long relationship but in recent times there has been an emphasis on trade and investment in the energy sector.
“As T&T literally closest diplomatic neighbour on the South American continent, our commonalities are rich and varied. They include our cultural and culinary expressions, our frequent people-to-people exchanges, some of those have beccome more frequent in recent years. Our trade, investment and energy relations have got deeper, as well as our shared concerns on many matters on regional security, climate change and related issues.”
He said the relationship has evolved over the years and now both countries have been heavily focused on developing their energy sectors.
“T&T shares a history of collaboration with Venezuela in many sectors. In recent times, our focus has turned on enhancing cooperation in energy matters which was further bolstered by the issue of on a very important exploration and production licence to the NGC of T&T in relation to the Dragon field in 2023.”
He also pointed out that there have been increased strides in greater connectivity between the two countries as business, tourism and trade ties increase.
“It has been both by air and by the sea bridge, carrying passengers and cargo and the continued collaboration between our respective national security teams. The first launch of a fast ferry with round trips from Güiria in Venezuela to Chaguaramas in T&T as well as the use of the Venezuelan cargo ship La Emprendedora which replaced the MV Cabo Star in the transport sector.”
In terms of the local business sector, he praised Venezuelan nationals who now reside in T&T and have made a contribution to T&T’s culinary sector selling Venezuelan food at local restaurants and other food establishments.
“There has been a fusion of the culinary offerings, which can now be found throughout T&T as our Venezuelan brothers and sisters have been added to the melting pot of T&T with our vast array of ethnicities and cultures. Now you can find really, really good empanadas and arepas alongside local cuisine at restaurants and street-food venues. You can have an easy breakfast.”
Speaking about diplomatic relations, he said both countries have shared interests in regional and international institutions that impact on life in Latin America and the Caribbean.
“These include the Association of Caribbean states (ACS), the Latin American economic system, the Community of Latin American and Caribbean States (CELAC), the Gas Exporting Countries Forum and of course at the United Nations. It is not too late to mark Venezuela’s support for T&T’s candidacy for Office of the President of the General assembly of the United Nations.”
Angostura Bitters
CEO of Angostura Holdings Ltd, Laurent Schun, who spoke briefly at the Independence Day event, highlighted Angostura’s 200 years of history, which ties in with Venezuela’s history and boasted that today, Angostura is a global leader in the bitters and spirits industry.
“When Dr Johann Siegert created what is now known to be Angostura Aromatic Bitters in 1824, in that small town of the same name, it was born out of the desire to aid the health of Simon Bolivar’s troops and it has since become an indispensable ingredient in cocktails worldwide. Even today it is still used in many Caribbean households. This historic bond between Angostura and Venezuela is a testament of our shared relations. As Angostura celebrates its own 200th anniversary this year, we reflect on our journey with immense pride. Our journey from our early days in Venezuela to becoming a global leader in the bitters and spirit industry is testament of the strengths of our values,” Schun said.
When asked about the current business relationship between the company and Venezuela, the Venezuelan Ambassador told the Business Guardian that there is potential.
“Angostura, based in T&T is open, to exporting its products to Venezuela in the future.”
