d producers that do not comply with government regulations may give rise to sovereign risk concerns. Government policy is favouring ties with state-owned firms linked to governments that are either close allies of the administration or countries the administration wants as allies. The imposition of foreign-exchange controls requires all persons in Venezuela to obtain government approval to send any funds overseas. The difficulty in receiving payment in foreign currencies such as the US Dollar or the Euro has discouraged many small to medium sized Australian companies from exporting to Venezuela.
High level visits
January 2012: Then Parliamentary Secretary for Foreign Affairs, the Hon Richard Marles visited Venezuela.