India and Venezuela Agree to Boost Cooperation at 5th Foreign Office Consultations
India and Venezuela held their 5th Foreign Office Consultations in New Delhi on Wednesday. Both sides agreed to strengthen cooperation in key areas, including trade, health and pharmaceuticals, digital technology, agriculture, development partnership, culture, and people-to-people exchanges.
The meeting was co-chaired by Secretary (East) P Kumaran from India and Venezuela’s Vice Minister of Foreign Affairs Tatiana Josefina Pugh Moreno. The Ministry of External Affairs (MEA) confirmed that both sides discussed regional and global issues and agreed to work closely in multilateral forums.
India and Venezuela share long-standing diplomatic relations, with cooperation mainly focused on energy, trade and capacity building. During the talks, both nations reaffirmed their commitment to deepen engagement across multiple sectors.
The MEA said that officials exchanged views on international developments and agreed to “coordinate closely in multilateral fora, advancing India–Venezuela partnership.”
Both sides also agreed to hold the next round of consultations in Caracas at a mutually convenient date.
Venezuela recently showed interest in expanding its economic engagement with India beyond the oil sector. On November 15, the Commerce Ministry said Venezuela is also looking at cooperation in critical minerals, attracting Indian investments, and building stronger business partnerships.
Union Minister of Commerce and Industry Piyush Goyal met Venezuela’s Minister of Ecological Mining Development Hector Silva during the 30th CII Partnership Summit in Visakhapatnam. During the meeting, Goyal highlighted the need to reactivate the India–Venezuela Joint Committee Mechanism, which last met ten years ago.
He also pointed out that ONGC’s ongoing operations in Venezuela can help expand collaboration in mining and exploration.
Goyal suggested that Venezuela could consider accepting the Indian Pharmacopeia to support pharmaceutical trade and said that there is strong potential for cooperation in the automobile sector as well. He added that India would explore new investment opportunities with Venezuelan businesses.
India benefited from imports of heavy crude from Venezuela after US sanctions were eased in 2024. With both nations looking to grow trade and investment ties, the next round of consultations in Caracas is expected to focus on deeper cooperation in energy, mining, healthcare, and technology.
Final Thoughts from TheTrendingPeople
India and Venezuela’s 5th Foreign Office Consultations highlight a growing interest from both sides to build a broader and more diverse partnership. Beyond oil, the focus on technology, pharmaceuticals, agriculture, and mining shows a shift toward long-term strategic cooperation. With ONGC’s presence in Venezuela and new opportunities emerging after the easing of US sanctions, the relationship is likely to strengthen further. As both countries plan the next round of talks in Caracas, this partnership has the potential to expand trade, support investment, and create new areas of cooperation that benefit both economies.