Bolivia’s textile exports to Venezuela will reach US$100 million

On October 30, Bolivian Vice President Linera announced that with the signing of an agreement on Venezuela’s opening up of textile imports from Bolivia, Bolivia’s annual textile exports to Venezuela will reach US$200 million.
​
Linera said that the Bolivian government’s goal is to export Venezuelan textiles to account for 10% of Venezuela’s total domestic textile imports on the basis of US$200 million. Linera said that this will be very beneficial to the development of Bolivia’s textile and export industries, and will promote the continuous deepening of trade relations between the two countries and promote the process of regional integration.
​
On October 29, the presidents of the two countries signed a textile import and export agreement, marking Venezuela’s full liberalization of textile imports from Bolivia. Bolivian President Morales said that the agreement will help Bolivia’s textile industry get out of the predicament restricted by the United States. On October 17, the United States announced the extension of the Andean Tariff Preferences Agreement, but the extension period for Bolivia was only half a year, which was protested by the Bolivian government. In 2007, Bolivia’s textile exports to the United States were US$362 million, accounting for 10% of Bolivia’s total textile exports.