http://www.reuters.com/articlePrint?articleId=USN0238821420080402

Venezuela words on U.S. don't match trade: official

Wed Apr 2, 2008 2:36pm EDT

By Manuela Badawy

NEW YORK (Reuters) - Venezuelan President Hugo Chavez's anti-American
rhetoric has had little impact on the long-standing trade relationship
between the two countries, a U.S. top official said on Wednesday.

"When you look at the fundamentals of the relationship, the rhetoric
(against the United States) does not support it," Thomas Shannon,
assistant secretary of state for western hemisphere affairs said at the
Council of the Americas.

Chavez has frequently clashed with the United States since taking
office in 1999 and his international reputation is largely built on
insulting U.S. President George W. Bush.

Yet the two countries remain strong trading partners, mainly in the
energy sector.

Venezuela was the fourth largest source of crude oil for the United
States in 2007, amounting to average imports of 1.361 million
barrels-per-day of both crude oil and petroleum products, according to
the Energy Information Administration, the statistical arm of the U.S.
Energy Department.

In 2006, the U.S. exported over $9 billion in goods to Venezuela, and
including petroleum products, Venezuela exported about $36 billion in
goods to the United States.

Chavez pushed to increase Venezuela's stature in the region while
Washington was occupied with Afghanistan and Iraq and other Latin
American countries were focused on elections. But Shannon said this has
changed recently due to Venezuela's internal woes.

"Venezuela has now been pushed to focus on internal issues and its
weaknesses," Shannon said. "People are asking for better government,
better security, and food, and are worried about inflation."

Venezuela's economy is currently suffering from extremely high rates of
inflation -- 22.5 percent in 2007 -- despite strong rates of growth.
Basic food staples are also in short supply.

Despite each country's criticism of the other, Shannon said: "We have
made it clear to President Chavez and everyone around him we will work
with him if he will work with us."

(Editing by Jackie Frank)

© Reuters 2007.
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