VenAmCham and U.S. seek to boost investment and trade.

The Venezuelan-American Chamber of Commerce and Industry (VenAmCham) held a meeting in Caracas with representatives of the U.S. Department of Commerce and officials from its embassy, according to the portal AlbertoNews.

The meeting, led by U.S. Under Secretary of Commerce David L. Fogel, aimed to analyze investment opportunities and strengthen bilateral trade relations. The sessions reviewed the conditions of American companies already operating in the country and explored mechanisms to promote free enterprise and competitiveness in the local business environment.

Fogel's visit to the Venezuelan capital also included a meeting with Foreign Minister Félix Plasencia to address mechanisms that could boost market exchange. The U.S. official also inspected new medical equipment supplied by Philips and Medtronic at the Hospital Vargas, as part of the bilateral cooperation agenda.

The rapprochement comes at a time when a high country risk premium makes access to international credit more expensive and deters foreign direct investment. In this context, facilitating channels of business dialogue seeks to open financing alternatives and revive productive sectors that depend on the exchange of inputs and technology with the U.S. market.

Going forward, the progress of these agreements will depend on easing the regulatory obstacles that currently limit financial transactions between the two countries, a key factor for investment intentions to translate into concrete projects.