Around 1987, Venevision - a Venezuelan television station - began airing Spanish-dubbed adventures of G.I.Joe. The cartoon was a popular hit, however, no G.I.Joe toys were being sold in Venezuela. To fill the demand, G.I.Joe toys were imported/smuggled from other countries. Figures were soon being sold for $10 each.
In 1990, a Venezuelan toy company - Rubiplas - licensed G.I.Joe from Hasbro and began production of G.I.Joe toys in Venezuela. They did not produce the toys currently shipping in the United States, but produced and sold toys that had been made from 1982 through 1985. The figures were sold for $2 each, thus killing the importing of G.I.Joe toys. The plastic used by Rubiplas was cheaper and quality control was less than perfect - accessory mistakes abound. By 1992, Rubiplas had stopped production.