EU relations and cooperation with Venezuela are carried out on a regional and bilateral basis.

At regional level, relations are ongoing within the framework of the institutional dialogue between the European Union and the Rio Group. In 2012 Venezuela became a full member of Mercosur and has thus joined the dialogue and negotiations between the EU and Mercosur.

Trade between the EU and Venezuela remains an important subject of relations.

The 2007-2013 Country Strategy Paper [542 KB]  outlined the main axes of financial bilateral cooperation with Venezuela. Two specific sectors had been identified: 

• support to the modernization of the State and its institutions;
• diversification of the economy.

 

In line with other middle-income countries, as of 2014, Venezuela will no longer benefit from bilateral cooperation.