Argentinian legend Diego Armando Maradona, Venezuela President Hugo Chavez and Bolivia President Evo Morales kicked off the tournament in front of 43,000 fans at the Pueblo Nuevo stadium in San Cristobal.

But it was the Bolivians who had the last word as Juan Carlos Arce silenced the crowd with a second equaliser seven minutes from the end.

Bolivia had the better of the early exchanges but could not fashion any chances dangerous enough to threaten Venezuelan goalkeeper Ronnie Vega.

The hosts had the first attempt on target as Fernando De Ornelas' long range shot was well held by Bolivian keeper Galarza before opening the scoring after 20 minutes when midfielder Giancarlo Maldonado found the back of the net from inside the box.

However, Erwin Sanchez's side pulled level after 39 minutes when Jaime Moreno escaped the attentions of the Venezuelan defence before unleashing a shot that deflected in off Alejandro Cichero's leg.

Man of the match Ricardo Paez put Venezuela back in front in the 55th minute with a classy finish and Richard Paez's men then spurned a number of opportunities to extend their lead.

And they were made to pay for their profligacy after 83 minutes when Corinthians' young striker Juan Carlos Arce applied the finish to Gonzalo Galindo's pass.

Venezuela face Peru, impressive 3-0 winners over Uruguay in their second game on Saturday while Bolivia face Oscar Tabarez's side.