oaring crime rates and detention of opposition figures. The United States announcement of sanctions and a ‘Special State of Emergency’ with regard to the situation in Venezuela in March 2015 led to intense reactions in Venezuela.
The foreign policy settings under the Maduro government have shown strong continuity with the previous administration. President Chávez identified with the ‘global south'. favouring a fundamental shift in international political economy and the re-emergence of a multipolar world in order to constrain the United States, which still remains as Venezuela's main trading partner.
President Chávez strengthened relations with many of Latin America's left-leaning administrations, including Bolivia, Ecuador, Nicaragua and Cuba, through the creation of the Bolivarian Alliance for the Peoples of Our America (ALBA). It was proposed by President Chávez as an alternative to the Free Trade Area of the Americas (FTAA), based on cooperation through social, political and economic integration of these like-minded countries. Venezuela has extended its relations with select Latin American and Caribbean countries through the 2005 signing of an Energy Cooperation Agreement called Petrocaribe. Through the agreement Venezuela provided the 17 additional signatories preferential arrangements to access heavily discounted Venezuelan produced oil.
President Chávez also sought to deepen Venezuela's foreign and strategic relations with states not allied to the United States, such as China, Russia, Vietnam, and Iran. Evidence of this includes Venezuela's offer of support to Russia during its 2008 war against Georgia in South Ossetia and Abkhazia. China has been an important source of financial capital for Venezuela. President Chávez also publicly supported Iran's nuclear program, by claiming that Venezuela would ‘not be indifferent' should a pre-emptive attack be launched against Tehran.
In addition to closer political ties, Venezuela has materially benefited from its strategic relationship with Russia. Russian-Venezuelan talks in July 2013 expressed a common desire to continue strategic bilateral cooperation.
While strains have reappeared in the Colombia-Venezuela relationship under Maduro’s presidency, the two countries have improved considerably their cooperative ties since major diplomatic standoffs in 2008 and 2010. Venezuela has played an important role, for example, in accompanying the peace talks between Colombia and the Revolutionary Armed Forces of Colombia (FARC) guerilla group.
Venezuela is a non-permanent member of the UN Security Council during the period, 2015-2016.
In 2001, the Australian Government established the Council on Australia-Latin America Relations (COALAR) which aims to enhance commercial, political and cultural relations between Australia and Latin America. Since its inception, COALAR has been active in promoting business, education, tourism and cultural links between Australia and Latin America. For updates on COALAR activities and information on the annual grants program, follow COALAR on Facebook.
People to people links
Though small numbers of Venezuela-born people have migrated to Australia since the 1960s, they are relatively new migrants to Australia. The latest Census in 2011 recorded 3,404 Venezuela-born people in Australia, an increase of 122 per cent from the 2006 Census. In 2014 there were 895 Venezuelan students studying in Australian education institutions. More information on the Venezuela-born community in Australia can be found at the Department of Social Services Community Information Summary page.
From 2010 to 2014, Australia provided $100 million in official development assistance to Latin America, including 250 Australia Awards scholarships. Venezuela received six Australia Awards Scholarships.
At a glance
For latest economic date refer to the Venezuela fact sheet [PDF 29 KB].
Venezuela's economy is largely based on its petroleum sector, which accounts for roughly a third of the country's GDP and over 90 per cent of its export earnings. Like other oil-dependent economies, Venezue