Africa, Venezuela Advance Practical Trade and Investment Cooperation

 

A high-level working visit to Caracas by the African Energy Chamber (AEC) (https://EnergyChamber.org) this February marked a significant step in strengthening Africa–Venezuela cooperation, moving engagement beyond hydrocarbons toward broader South–South trade and investment opportunities. The discussions focused on removing longstanding transactional bottlenecks and boosting bilateral trade in goods, services and industrial collaboration.

Leading discussions with Coromoto Godoy Calderón, Minister of Foreign Trade of the Bolivarian Republic of Venezuela, the AEC delegation explored strategies to expand African markets for Venezuelan goods while facilitating reciprocal African investment in Venezuela. The visit emphasized creating a comprehensive framework for trade that extends beyond oil and gas, promoting manufactured goods, services and skills exchange.

“Together with the Minister, we discussed opening up African markets on a Global South–South strategy,” said NJ Ayuk, Executive Chairman of the AEC. “A priority is working on Venezuelan goods in Africa – not just energy. We are committed to removing bottlenecks, improving regulations and building a framework that accelerates trade and development between our regions.”

The visit also addressed potential alignment with the African Continental Free Trade Area, signaling new pathways for Venezuelan products to access African markets under continental trade frameworks. This reflects a growing interest in integrated commercial engagement that leverages shared resources and strengthens economic ties between African nations and Venezuela.

Institutional cooperation was another key focus. The AEC and Venezuelan authorities agreed on the importance of sharing best practices to position Venezuela as an attractive partner for African investors. Programs are being developed to promote Venezuelan products in African markets while encouraging investment in Venezuela’s broader non-oil economy.

Financial collaboration is central to this strategy. The delegation met with the Venezuelan Export–Import Bank to explore partnerships with African regional development banks and export finance institutions. These initiatives aim to facilitate trade finance, streamline payments and reduce transaction risks, providing a clearer, bankable framework for industrial and commercial projects.

Both sides pledged to showcase Venezuela in key African trade platforms, including the Intra-African Trade Fair organized by Afreximbank, and African Energy Week 2026, where Venezuelan products and expertise can be highlighted. Capacity-building workshops are planned to strengthen skills and technical exchange, reinforcing long-term trade and industrial collaboration.

The working visit marks a shift from energy-centered engagement to a broader, market-oriented partnership. By addressing regulatory challenges, expanding institutional cooperation and promoting trade-enabling frameworks, Africa and Venezuela are laying the foundations for reciprocal investment, industrial growth and deeper integration across the Global South.

“Our focus is on enabling trade that drives development. By working together to break down bottlenecks and expand commercial exchange, we are helping to shape a future in which African and Venezuelan economies grow stronger through partnership – not just in energy, but across the full spectrum of goods, services and investment,” Ayuk added.

Distributed by APO Group on behalf of African Energy Chamber.