The Banco de Comercio Exterior (Bancoex) was established on July 12, 1996. Five years later, on September 20, 2001, it became a development bank under the enabling law enacted by the then President of the Bolivarian Republic of Venezuela, Hugo Chávez.
Fostering non-oil exports and boosting domestic production under the principles of integration, complementarity and efficiency are the main goals of this financial institution of the Venezuelan State that seeks an equal balance of trade with foreign countries.
Bancoex invests in growth and diversification of exports by means of promotion and funding of entrepreneurs and businesspersons based in Venezuela.
This financial entity assigns a priority to Latin American economic linkage and a reinforced foreign trade with the region. Since 2013, it embarked upon a program on export promotion called Venezuela Exporta / Venezuela Trade, a global strategy that has borne fruit from the outset.
In some more than one year, this program has visited Montevideo, Uruguay; Guayaquil, Ecuador; Santa Cruz, Bolivia; Bogotá, Colombia, Havana, Cuba and Manaus, Brazil. Recent destinations include Cochabamba, Bolivia; Port of Spain, Trinidad and Tobago; San Salvador, El Salvador and Caracas, Venezuela.
Growth, expansion, diversification and upgrade of the bank rating are some of the goals set by this institution, which continues projecting itself as an agency for export promotion with the program Venezuela Exporta, and making headway with its consolidation as a development bank.