In the past there was some friction over sea rights but this has cooled down a lot mostly because Venezuela has more to deal with than whether one of our fishing boats happens to venture into their waters. But if you ask the typical Venezuelan they will tell you that Trinidad and Tobago belongs to Venezuela. It probably would have been that way too but they didn't want to face the onslaught of the British if they invaded.
Trinidad and Tobago has had fishing issues with Barbados too, but we all know they're not going to war with them over it. ;)
But Barbados doesn't have a significant military like Venezuela has. Just a week ago I think there was an incident where the Venezuelan coast guard boarded one of our local boats in international waters and they claimed it was Venezuela's.
As I started to re-learn Spanish, I went to the Venezuelan Embassy to their conversation class. There the coordinator said that in 1777 Trinidad became part of the "Capitania General de Venezuela" I had never heard of that before as in Trinidad we are taught about the Cedula of Population (1783) and the capitulation to the British in 1797.
I did some research on this and I realize that only three locally produced history books I've seen thus far mentions it.
The Book of Trinidad - Gerard Besson & Bridget Brereton
History of Modern Trinidad - Bridget Brereton
The Angostura Historical Digest mentions that we were a part of the Viceroyalty of New Granada and that we were "For all intents and purposes a part of Venezuela" but he didn't mention the creation of the Captaincy General of Venezuela nor the Intendency of Caracas.
Sister Maria Therese Retout also in her book devoted to Venezuela mentions that we were part of the General Captaincy.
The History of Port-of-Spain Vol.1 Michael Anthony also mentions at the beginning that judicial authority had to be referred to in Venezuela on some matters.
The Captaincy General of Venezuela is the pre-independence form of the now Bolivarian Republic of Venezuela but when the British captured Trinidad in 1797, there was no such country in existence. The decision to use the Capitancy General's boundaries as that of an independent state took place in 1811 when independence was declared but at that time Trinidad was well in British hands. Venezuela also recognizes the Treaty of Amiens of 1802 as a legitimate handover of the island so they were never legally able to claim the island.
Good news! I just bought the book "Spanish Trinidad" Or "Trinidad espanola" By Francisco Padron and it has the same information on pg. 158 that we were separated from the Viceroyalty of New Granada and became part of the Captaincy General of Caracas (alternative name for the Captaincy General of Venezuela) Then on the following pages it talks about the Governor Falquez having to send reports to the Intendant's Office in Caracas.
There can be a debate as to the role of the Captain General vis-a-vis the role of the Intendant as the latter seemed to be the one that the Trinidadian historians make mention of and not the former. It seems to me that Trinidad was part of the Captaincy General of Caracas on paper but not in heart which is why some historians refuse to mention him in their scholarship.