Trade Policy Review: Venezuela
PRESS RELEASE: PRESS/TPRB/207
29 November 2002
POLICY REVIEW: VENEZUELA
More private investment needed to diversify the economy
A WTO report, along with the policy statement of the Government of Venezuela, will serve as a basis for the second Trade Policy Review (TPR) of Venezuela by the Trade Policy Review Body of the WTO on 27 and 29 November 2002.
A report on the trade policies and practices of Venezuela, published November 29 by the WTO Secretariat, says that steps have been taken to liberalize the economy but that more private investment is required to achieve greater diversification.
To do so, the report also says, Venezuela needs to address the perception of insufficient predictability in its institutional and legal framework, which could be done by following stricter practices in its trade policies and binding recent liberalization measures.