I. Diplomatic Relations

Greece is represented in Venezuela by the Greek Embassy in Caracas.

II. Framework of Treaties

The framework of treaties governing relations between Greece and Venezuela is the following:

• Social Security Agreement (Law 2259/1994 Gov. Gaz. 203//15.12.1994).
• Administrative Regulation on the Implementation of the Social Security Convention (Law 2259/1994 Gov. Gaz.      203//15.12.1994)
• Cultural Co-operation Agreement (Law 2348/1995 Gov. Gaz. 222//30.10.1995).
• Tourist Co-operation Agreement (Law. 2624/1998 Gov. Gaz. 147//6.7.1998).

III. Political Relations

Political Relations between Greece and Venezuela are very good. President Chavez has often praised Greek history and civilization.

Throughout the political crisis of 2002-2004, Greece jointly with the other EU Member States supported the need for a peaceful, consensus-based and constitutional solution, and accordingly recognised the victory of President Chavez in the recall referendum of 15 August 2004, which offered a way out of Venezuelas political stalemate.

IV. Economic and Trade Relations

Economic relations between Greece and Venezuela are governed by WTO regulations (to which both states are parties), by the EU Venezuela agreements and by the bilateral Tourist Co-operation Agreement.

Bilateral trade flows between Greece and Venezuela over recent years have, first and foremost, shown a constant trade deficit for Greece (with wide fluctuations, however), and secondly, a decline in Greek exports to Venezuela.

Greek exports to Venezuela suffer from their limited range, since only one product, canned peaches, accounts for 44.5% of the total; the second product in terms of value accounting for 18.5% (in other words two products alone make up 63% of exports). Hence, if one of them happened to be affected by a passing crisis, as occasionally happens with peaches which can be affected by the weather, total Greek exports would suffer a serious drop.

Regarding Venezuelan exports to Greece, there is even greater dependence on a single product, since coke brick from oil accounts for 81%, which is only to be expected given that the oil industry is the main sector of the economy, representing 80% of exports. It is estimated that in 2004 the value of imports from Venezuela increased significantly, due to the steep rise in the international oil price.

V. The Greek Community

According to the Caracas Embassys Consular Office, the Greek community in Venezuela numbers 1,148 people, the majority of whom are in business. There are organised, albeit small communities in Caracas and in Valencia, where in the main the Greek language, and also history and culture are taught by two Greek teachers seconded by the Ministry of National Education and Religious Affairs.

VI. Embassy Details Caracas