(WIPO code: VE) (latest review July 2021)

by BOLET & TERRERO, Patent and Trade Marks Attorneys, Caracas

General Information

Area

916,700 sq. km.

Population

29,069,153 (estimated July 2021).

Capital

Caracas, with approximately 2.946 million inhabitants (2021).

Official language

Spanish.

Currency

Bolivar

Most important mineral, agricultural and industrial products

Petroleum, steel and aluminium, bauxite, iron, gold, coal, cattle, diamonds, tobacco, cotton, fruit, rubber, sugar, cocoa, coffee, asbestos, gasoline, cement, beer and construction materials.

General Remarks

The Bolivarian Republic of Venezuela was formed in 1830 after amicable secession from the other members of the Republic of Gran Colombia. Venezuela is bounded on the north by the Caribbean Sea, on the east by Guyana and Brazil, on the south by Brazil and on the west by Colombia.

Mining, agriculture and cattle breeding are the chief occupations of the people; the main exports are petroleum, gold, coffee, cocoa, rubber, balata, iron ore and hides. Petroleum is found in the States of Zulia, Falcon, Monagas and Anzoategui. Venezuela is among the tenth largest oil-producing country in the world.

Scientific methods of cultivation are taught at the new agricultural stations established in each of the twenty state capitals. Forests cover nearly half the Republic; six hundred species of wood have been identified. Coffee is the main item in the agricultural prosperity of Venezuela. Cocoa of high quality is the second crop in importance and finds its principal market in the United States.

Venezuela has been a full member of the Andean Community of Nations since 1973, but announced in 2006 its withdrawal from the trade bloc. However, Venezuela’s rights and obligations were still effective during the next five years where Decision 486 was still in force.