PORT OF SPAIN, Trinidad, Oct 27, CMC -Trinidad and Tobago and Venezuela Tuesday began are exploring opportunities to expand bilateral trade, attract investment and strengthen energy cooperation with Port of Spain describing the event as an important step in advancing a renewed phase of bilateral relations.
“Trinidad and Tobago and Venezuela are bound not only by geography, but by history, and by shared economic destiny,” Foreign and CARICOM Affairs Minister , Sean Sobers told the “Business Roundtable” that was attended by a delegation from Sucre State in Venezuela.
“Let this Business Roundtable be more than a presentation of catalogues. Let it be a marketplace of ideas, a space where partnerships are forged, where a handshake today becomes a joint venture tomorrow,” he added.
The engagement, which was co hosted by the Energy Chamber of Trinidad and Tobago and the Embassy of the Bolivarian Republic of Venezuela to Trinidad and Tobago, brought together public and private sector stakeholders to identify opportunities for increased commercial exchange, with a focus on fisheries, agriculture, manufacturing, tourism and energy.
Sobers described the roundtable as an important step in advancing a renewed phase of bilateral relations, highlighting the countries’ geographic proximity, shared history and complementary economic strengths.
He said that Trinidad and Tobago’s trade relationship with Venezuela continues to offer considerable scope for growth. In 2025, Trinidad and Tobago exported TT$33.4 million (One TT dollar=US$0.16 cents) in goods to Venezuela and imported TT$34.7 million.
Sobers highlighted the Caribbean Community (CARICOM)-Venezuela Trade and Investment Agreement of 1992 as an important framework for facilitating trade and noted that technical teams from both countries are reviewing the agreement to identify and prioritise products for trade.
Sobers also welcomed the Trinidad and Tobago Manufacturers’ Association’s (TTMA) readiness to explore export opportunities and potential sources of raw materials in Venezuela. The TTMA is expected to host a webinar next month on Doing Business in Venezuela, featuring presentations by the Venezuelan Ambassador and representatives of the Trinidad and Tobago government.
Regarding energy cooperation, Sobers underscored the complementary strengths of both countries, noting Trinidad and Tobago’s established energy infrastructure, processing capacity and technical expertise, alongside Venezuela’s substantial hydrocarbon resources. He spoke of opportunities for collaboration in natural gas development, cross-border energy projects, technical knowledge exchange and capacity building to support regional energy security.
He made reference to the recently signed Letter of Intent between the energy chambers of Trinidad and Tobago and Venezuela, which provides a framework for knowledge exchange, mutual support and stronger industry engagement, expressing optimism that the agreement would facilitate joint industry events, technical workshops and information-sharing initiatives.
Sobers also recalled last month’s engagements between the two countries, including his visit to Caracas and the meeting between Prime Minister Kamla Persad-Bissessar, and Venezuela’s acting President, Delcy Rodríguez, in New York on September 23.
Sobers told the event that these engagements had helped lay the groundwork for renewed dialogue and cooperation and represented a shared vision for the future of relations between the two countries.
He also welcomed the anticipated resumption of the state-owned Caribbean Airlines (CAL) flights into the South American country from the end of this month, noting that improved connectivity could support business development and strengthen people-to-people ties.
A statement issued following the Roundtable, noted that the Trinidad and Tobagogovernment “remains committed to strengthening trade and investment, deepening energy cooperation and advancing mutually beneficial economic opportunities with Venezuela for the benefit of both countries and the wider Caribbean”.
CMC/kj/ir/2026