As the collapse of the Venezuelan economy reached historic lows, Colombia has taken the move to revive diplomatic ties with the neighboring socialist country in an effort to encourage diplomatic dialogue and mutual cooperation. With support from the United States, Colombian President Iván Duque and Venezuelan leader Nicolás Maduro announced on June 10, 2020 that they would re-establish full diplomatic relations in the face of political, social and economic turmoil in Venezuela, raising significant implications for all political players in the region.

This decision also creates an opportunity for Colombia to mend its relations with its neighbor that have been strained for years. In order to understand the significance of this move, it’s important to know the history between these two countries and their relationship with the United States.

The History of Colombia-Venezuela Relations

Colombia and Venezuela have historically had strong ties, centered around their common Andean Mountain range and the Amazonian Basin. This geopolitical proximity has made them depend on each other for many of the resources and transportation needs. Colombia has benefited greatly from Venezuelan crude oil exports and other imports. However, these relations have faced many decades of strain.

In 1947, disputed authority over the border began with a series of war involving Colombia and Venezuela that culminated in the signing of the Rio de Janeiro Protocol of 1948, which clarified the precise dieline of their border (which was then called the Maracaibo War). This agreement was followed by several high-profile crisis and diplomatic standoffs between 1955 and 1986.

The 2002 Venezuelan coup attempt heightened the already tense relations between these two countries, resulting in major diplomatic and economic disputes. In 2016, a major incident involved a Venezuelan military plane that penetrated Colombian airspace, causing major safety concerns and reinforcing tensions. During the Miami Summit of that same year, the heads of Colombia and Venezuela officially declared a final cessation of hostilities and normalized diplomatic relations.

Colombia and the U.S. Working to Improve Relations

In recent years, the United States has played an important role in the normalization of the Colombia-Venezuela relations. In 2017, the Trump administration declared its commitment to restore democratic order and human rights in Latin America and specifically in Venezuela. The U.S. government backed Colombia’s efforts to propogate its borders and protect its democratic institutions. Moves by President Trump to cut off economic ties and sanction Venezuela were just some of the main ways the U.S. exerted pressure on the Maduro administration. As the conflicts in this region continue, the Bogota-Washington axis continues to encourage much-needed dialogue and cooperation between the two countries.

The Renewed Colombia-Venezuela Relations

It was in 2020 that the Colombian President Iván Duque and Venezuelan leader Nicolás Maduro announced that they would re-establish full diplomatic relations. This is particularly pertinent as the declining economic state in Venezuela drives thousands of people to flee their country while deepening the humanitarian crisis. Amidst this chaos, Colombia has sent its Foreign Minister Claudia Blum to Caracas in order to analyze and devise a plan for possible cooperation in matters such as security and border protection.

The Advantages of Colombia-Venezuela Trade

The renewal of diplomatic relations between Colombia and Venezuela could be a beneficial move for both countries. It could potentially boost economic cooperation by re-opening the Venezuelan oil to Colombia, which accounted for almost 80% of Colombia’s oil imports prior to the sanctions that were imposed by the Donald Trump administration. This could result in a reduction of the local prices of gasoline which could have important implications for the economy.

Another potential area of cooperation is telecommunications. While the flow of information is strictly regulated on the Venezuelan side, full access to their market could generate significant opportunities for Colombian companies based abroad who are interested in establishing operations in Venezuela.

Likewise, access to Colombian markets could provide new business opportunities for Venezuelan entrepreneurs now living in Colombia. This also means increased access food, medicines and other necessities to Venezuelans who have had difficulties to find these items due to the state of the economy and the embargo enforced by certain countries.

This move could also have positive implications for the region as whole. The re-establishment of full diplomatic ties between Colombia and Venezuela could help to foster peace and stability. And while the two countries have taken different paths since 1999 and today, a cooperation initiative could serve as a better and more productive alternative to military action and hostile rhetoric.

The Challenges and Risks Ahead

However, the re-establishment of diplomatic ties between Colombia and Venezuela can be a risky undertaking, requiring both countries to trust that each will act in good faith. A lack of trust could jeopardize any potential joint initiatives, particularly in the spheres of security and border control.

In particular, there are fears that the increased access of Venezuelan security forces to Colombian territory could become a point of contention, as both countries would have to negotiate their interests and boundaries. Additionally, the presence of both Colombian and Venezuelan drug trafficking organizations in the area could also hinder negotiations.

The renewal of diplomatic ties between Colombia and Venezuela could also create disagreement in the international arena, as the United States and other countries will have to navigate their diplomatic response to this move.

The resumption of diplomatic relations between Colombia and Venezuela is an important step towards peace and stability in the region. While the potential for cooperation is vast, there is also a high risk of disagreements, misinterpretations, and underwhelming outcomes. However, if this process is undertaken with patience and respect, it could signal a new era of cooperation between two countries who, in spite of their differences, share strong economic, cultural and geopolitical ties.