IIRC, the Chileans aren't that keen. Chavez supports Bolivian claims for access to the sea, which would involve the creation of a corridor to the Pacific through Chilean territory.
Relations between Brazil and Venezuela appear to be worsening. There's a dispute over Mercosur membership between the two - Venezuela wants to become a member, but this needs the Brazilian senate to ratify the decision; The Brazilian senate feels that Venezuela hasn't yet met the entry conditions. Chavez has put his teddy on R5 to move from its holding position in the pram and is threatening to withdraw from Mercosur if the Brazilians don't give him what he wants. He's also unhappy that the Brazilian senate was a tad critical of his banning of the opposition TV station, while Brazilian industrialists have, in effect, warned the government to trust Chavez no further than they can throw him.
The TV dispute led to Chavez saying something rather rude about the Brazilian senators (I forget what), and this led to the ambassador being called in for a no coffee, no Ferrero Rocher chat with the Brazilian foreign minister.