Both Latin American nations share a common past, the current Bolivian and Venezuelan territories were part of the Spanish Empire, being administered separately: the Province of Charcas (later Upper Peru) and the Captaincy General of Venezuela, respectively.

Both countries maintained an active participation in the Bolivarian Alliance for the Peoples of Our America (ALBA-TCP), until Bolivia's departure from the organization in November 2019.

[2] After the resignation of the government of Evo Morales on 10 November 2019, the next day, hooded men took over the Venezuelan embassy in La Paz for a few hours armed with dynamite.

[3] On 15 November 2019, the constitutional president of Bolivia, Jeanine Áñez, broke diplomatic relations with the government of Nicolás Maduro, recognizing Juan Guaidó in his place.

[6] During its great economic boom, as a result of the high prices of a barrel of oil, Venezuela cooperated with Bolivia, giving away tractors, heavy machinery, asphalt, airplanes, helicopters, ambulances, computers, vehicles and motorcycles for the Bolivian Police and presidential security.

[7] Bolivian President Evo Morales Ayma thanked the Venezuelan donation and decided to distribute those 320 tractors among the departments of La Paz, Cochabamba, Santa Cruz, Tarija, Beni and Oruro.

The then Ministry of Rural Development and Lands of Bolivia indicated that it was already the obligation of the municipal governments to complete the accessories that were missing from said machines, since the cost of each plow did not exceed 800 dollars per unit.

[9] On July 30, 2007, Venezuela gave a large amount of heavy machinery to Bolivia, valued at about 12 million dollars for the reconstruction of several affected areas throughout the Department of Beni due to the natural disasters caused by the "El Niño Phenomenon".

[14] But it had not been long when on May 4, 2010, the Bolivian press made known to the entire public opinion of the country that one of the vehicles that Chávez gave to Evo Morales had been stolen while the presidential driver went to buy bread to the neighborhood store, which sparked a national scandal in Bolivia and also internationally.

In 1973 and during his first government, the President of Venezuela Rafael Caldera Rodríguez decided to give Bolivia some 9 semi-used North American F-86 "Saber" fighter jets (manufactured in the United States) with the aim of strengthening the Air Force Boliviana (FAB).

In 2003, the President of Venezuela Hugo Chávez decided to give away 11 semi-used military training aircraft Beechcraft T-34 Mentor to Bolivia with the aim of strengthening the Bolivian Air Force (FAB).