The president of Consecomercio, José Gregorio Rodríguez, recently announced that the organization submitted a proposal to the U.S. Chargé d’Affaires in Venezuela, John Barrett, regarding a free trade agreement for the non-oil sector.

According to Rodríguez, during the meeting, “business representatives indicated that making progress on this matter is a high-impact objective for national economic activity because it is an issue that concerns us all.”

The proposed free trade agreement between the two countries seeks to establish a “bilateral framework focused on reducing tariffs on a variety of goods, thereby diversifying Venezuelan exports to the North American market, prioritizing products such as shrimp, seaweed, coffee, and cocoa.”

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La entrada Consecomercio proposes a free trade agreement for the non-oil sector to the U.S. apareció primero en Bitfinance.

Amid the power outages in Venezuela, the president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, proposes including the private sector in the supply and marketing of services through a legal reform.

According to Rodríguez, this is the objective of a reform to the Organic Law of the National Electricity System, and he emphasized that “the current legal framework prevents the private sector from generating and marketing electricity. For this reason, the aim is to make the regulations more flexible and allow electricity to be viewed as a service-providing business.”

The union leader added that several issues related to the topic, such as streamlining procedures, the tax burden, and bank financing, are still pending. These topics will be addressed at the 56th National Assembly of Consecomercio, to be held in Barquisimeto, Lara state, on May 21 and 22.

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La entrada Consecomercio proposes including the private sector in the legal reform of the electricity system apareció primero en Bitfinance.

The president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, indicated that Venezuela’s economic growth could exceed 10% by the end of 2026.

Regarding the commercial sector, the president of the business association emphasized that it is expected to experience a rebound of 3 % to 4%  by the end of this year.

As Rodríguez stated in a television interview, “this positive trend will become more evident as the year progresses.” He added that economic growth will be reflected in the second half of 2026, “because the measures that can be adopted today are the product of a process.”

He emphasized the importance of a balance in key factors such as “tax burdens, financing, the simplification of administrative procedures, and attracting investment. For Rodríguez, the sustainability of growth depends on a comprehensive vision.”

On May 21 and 22, Consecomercio will hold an assembly in Lara state, where stakeholders in the sector will address essential and strategic issues related to national economic development.

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La entrada Venezuela’s economic growth expected to exceed 10 % by the end of 2026 apareció primero en Bitfinance.

The president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, forecasts a possible 10 % increase in sales in December.

Rodríguez referred to the last month of the year, when Christmas shopping boosts the market, while acknowledging that merchants face various challenges related to the exchange rate differential, but also linked to the inflation rate, with an average estimate of 250 % by the end of the year.

The executive urged authorities to conduct a review of the tax issue and specified that “more foreign currency must be allocated to priority areas, to areas considered important, because otherwise, this will translate into price increases and adjustments, and ultimately, the market will have a significant impact.”

According to Rodríguez, “63 % of the population lacks significant purchasing power and is limited to purchasing food, medicine, and toiletries. What we would like is to sell much more volume, not adjust prices, but we have some realities that we have to face.”

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La entrada Consecomercio estimates a 10 % increase in sales in December apareció primero en Bitfinance.

The president of the National Council of Commerce and Services (Consecomercio), Gustavo Valeillos, indicated that the organization predicts 40 % inflation in Venezuela by the end of this year.

Valecillos stressed “the commitment of the business sector” in terms of its contribution in terms of “public policies that stimulate productivity to ensure that Venezuelans can cover their needs.”

According to Consecomercio estimates, the country could close 2024 with 60% inflation, unlike last year when hyperinflation was experienced and the closing was at 190 %.

For his part, José Gregorio Rodríguez, regional coordinator of Consecomercio, stated: “It is our responsibility to contribute to proposing public policies that stimulate productivity with the objective of ensuring that Venezuelans have a welfare state that allows them to cover their needs.”

The first vice president of Fedecámaras, Felipe Capozzolo, referred to the importance of cooperation between the public and private sectors and added that in order to strengthen the presence of more products, more companies and more entrepreneurs in the market, in addition to the need to “control the exchange rate differential in order to increase productivity.”

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La entrada Consecomercio predicts closing the year with 40 % inflation apareció primero en Bitfinance.

The National Council of Commerce and Services (Consecomercio) called for the reactivation of the economy in Venezuela last Thursday, in a meeting with merchants and service providers.

Given the uncertainty prevailing in the country after the presidential elections on July 28, the organization advocates for the progressive restoration of commercial activity. On the other hand, he urged that private and public property be respected.

In a statement, Consecomercio stressed “the need to restore trust and establish conditions that favor commercial development,” in addition to reaffirming “its commitment to the rights of businessmen and consumers.”

From the organization they indicated that despite the slowdown in commercial activity, Consecomercio anticipates a gradual reactivation in the short term through trust, which requires the “creation of understanding mechanisms with the participation of actors from all sectors.”

According to the organization, it is essential that human and economic rights are respected, within “democratic principles that seek, above all, the well-being of citizens.”

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La entrada Consecomercio calls for reactivation of the economy in Venezuela apareció primero en Bitfinance.

The president of the National Council of Commerce and Services of Venezuela (Consecomercio), Gustavo Valecillos, highlighted the recent signing by the country of an agreement proposed by the World Trade Organization, which would help achieve the goal of simplifying trade in services.

According to Valecillos, the agreement “will benefit the logistics sector through the simplification, facilitation, standardization and harmonization of customs processes.”

He described Venezuela’s accession as an important and significant step. In addition, he referred to the upcoming “promulgation of the Non-Petroleum Export Promotion Law, which is currently being drafted, we are sure that the entire country will benefit.”

Venezuela has demonstrated, with the signing of the agreement, its firm purpose, through Consecomercio, to optimize the internal commercial and economic infrastructure, as well as implement the necessary policies for the development of international trade, in accordance with the proposals of the 53rd Assembly of Consecomercio in Puerto Cabello.

Benefits for the logistics sector in Venezuela

The signing of the agreement proposed by the World Trade Organization can generate benefits for “the growth and professionalization of the logistics sector to facilitate international trade,” according to Gretsy Marín, president of the Association of Freight and Customs Agents of Venezuela (Asocav).

He stressed that “investments must be encouraged in safe conditions, the development of logistics facilitation areas such as warehouses specialized in services to the export sector, improvement of infrastructure by land and in communications situations, satellite monitoring of all exports that leave To make.”

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La entrada Venezuela signs global agreement to simplify trade in services apareció primero en Bitfinance.

Gustavo Valecillos, president of the National Council of Commerce and Services, Consecomercio, presented this Tuesday a proposal for changes for the sector, within the framework of the celebration of the 44th edition of the National Day of Commerce and Services, held in the Plaza Real Hall of the Eurobuilding Hotel, in Caracas.

Before the members of the organization, Valecillos read the proposal that encompasses seven aspects to be addressed by the national government to boost the economy.

The document, which was also sent to the Vice Presidency of the Republic, the Ministry of Commerce and the Seniat, establishes:

• Transition to a market economy: To this end, Consecomercio proposes that the prices of goods and services be exempt from regulations and be defined by the law of supply and demand.
• Reduce inflation: By reducing the fiscal deficit, inflation can be lowered. This would require a reduction in public spending by the State and a rational increase in tax collection.
• Labor reform to recover the purchasing power of workers: In this regard, it is urgent to adapt the current Labor Law (Lottt) to current times. The generation of a “real and appropriate” income for workers must be prioritized, with an increase in national productivity. Likewise, mechanisms that generate jobs in the private sector are necessary.
• Change in fiscal policy: It must be based on the “expansion of the tax base and the elimination of unnecessary taxes: which allows expanding the national tax base and bringing formality to all economic activities in the country.” The organization proposes to review the legal framework of the tax sector; considering that the people “who should not contribute to the State are the people who live exclusively on pensions and retirements.”
• Reactivation of bank credit: Especially aimed at consumption, according to the agency, to help Venezuelans recover purchasing power, which has been reduced by low salaries.
• Adjust the size of the State to that of the economy: The size of the state does not match the size of the economy, which currently maintains unsustainable expenses. “This State must be adapted to what can be paid for with the real income of the treasury and the companies under the control of the State must be returned to the private sector, so that they go from being a burden to being a source of taxes,” the document states.
• Restore the autonomy of the Central Bank: The entity must recover its essence and its powers, free of political-partisan influences. The Central Bank of Venezuela must once again be an autonomous and independent entity, with a monetary policy aimed at economic stability without inflation; to provide benefits to workers, employers and the Government.

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La entrada Consecomercio proposes seven economic reforms in Venezuela apareció primero en Bitfinance.

The National Integrated Tax and Customs Administration Service (Seniat) explained that transactions carried out through payment gateways such as Zelle, PayPal, Reserve and other similar ones will be taxed by the Tax on Large Financial Transactions (IGTF in Spanish) because they are carried out without the intervention of the Venezuelan financial system.

The General Manager of Legal Services of the Seniat, Carlos Ernesto Padrón Rocca, spoke about the direct consultation of Edwuard Rafael Sucre Guzmán, inspection manager of the tax authority, related to the most common doubts that arise around the reform of the Income Tax. the Large Financial Transactions (IGTF). The new tax imposes a 3 % tax on payments with foreign currency and cryptoactives other than the petro.

The document was cited by different accounts through the instant messaging social network Twitter and although the measure directly impacts the consumer, who must pay more to use foreign currency, the businesses are the ones that have to adapt to this new tax mechanism.

Businesses are “going through a torment” to be able to collect the tax, because they must adapt their systems and that has some technical implications. In addition, the lack of information and the “gaps in the regulation” did not allow businesses to fix their systems before the tax came into effect.

All this situation has caused that 75 % of the companies in the commercial sector do not have the capacity to collect the tax in dollars. According to data provided by the National Council for Commerce and Services (Consecomercio).

Limitations for the collection of the IGTF

Tiziana Polesel, president of Consecomercio, highlighted that the main limitation that merchants are experiencing in collecting the tax is the impossibility of replacing or updating the fiscal machines, in order to be able to reflect the amount of the IGTF on the invoice.

According to Polesel, solving this situation requires a significant investment that many businesses, especially small ones, are not able to do in “a short time”. “They do not even have the possibility of resorting to loans,” she stressed.

The president of Consecomercio highlighted: “We are convinced that we must correct it. We have to understand how the sector works and what the weaknesses are in order to incorporate this contribution. We are not denying compliance, we are just asking for more time to make it work.“

The representative of the commercial sector highlighted that there is the possibility of an “increasing degree of informality, since businesses that cannot comply with the regulations will not stop operating but will migrate to that unregulated market that even affects the State, since VAT would not be paid either”.

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La entrada Transactions with Zelle, PayPal and Reserve must pay the IGTF tax apareció primero en Bitfinance.

On November 24 and 25, the II International Congress of E-Commerce Venezuela 2021 will be held. It is a virtual event with free access, organized by the Cámara Venezolana de Comercio Electrónico (Cavecom-e) under the auspices of the Consejo Nacional del Comercio y los Servicios (Consecomercio).

“Our mission is to promote and promote a true digital economy, which is why this second edition is an opportunity to continue building it, not only in our country but throughout the region. The digital ecosystem shows that it is possible to transcend borders with cutting-edge ideas and developments”, highlights Richard Ujueta Contreras, president of Cavecom-e.

The activity will bring together 20 high-level speakers from 7 countries for two days. Likewise, 15 success stories of national and international companies will be presented. The development of the Congress can be seen through the Cavecom-e platform by 3000 participants, previously registered through https://congreso.cavecom-e.org.ve/.

“The II International Congress is more than a meeting place for e-commerce professionals, it is also a key that opens doors to the world of opportunities and business. A space to connect with customers and suppliers”, adds José Yvan Bohórquez, director of digital media at Cavecom-e.

Global vision

This meeting will deal with topics like entrepreneurship and international leverage, mobile technologies and innovation; delivery and logistics; distance education and legal matters.

In the areas of administration and finance, the B2B & B2C models, means of payment (Fintech) and the role that cryptocurrencies play in electronic business models will be addressed.

The meeting will emphasize the need for “digital transformation”, which includes the digital citizen, the electronic invoice, the digital notary, the digital company and digital accounts. In the same way, the subject of taxes, formal Zelle duties and double taxation will be exposed, as well as adhesion contracts and trademarks.

The Congress is sponsored by REM Marketing, Banco Plaza, Barracuda, Mercado Libre, 1000 Pagos and Digo.

For more details on the activities agenda you can visit the site www.cavecom-e.org.ve and follow them on Instagram: @cavecom_e.

With information from Cavecom-e

La entrada Cavecom-e organizes the II International Congress of E-Commerce Venezuela 2021 apareció primero en Bitfinance.