A high-level working visit to Caracas by the African Energy Chamber (AEC)https://EnergyChamber.org) This February took an important step in strengthening Africa-Venezuela cooperation, expanding engagement toward broader South-South trade and investment opportunities beyond hydrocarbons. The discussions focused on removing long-standing transaction barriers and promoting bilateral trade in goods, services and industrial cooperation.
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 investments in Venezuela. The visit focused on creating a comprehensive framework for trade that goes beyond oil and gas, promoting manufactured goods, services and skills exchange.
“Along with the minister, we discussed the global South-South strategy to open up African markets,” said NJ Ayuk, acting chair of the AEC. “Working on Venezuelan goods to Africa is a priority – not just energy. We are committed to removing barriers, improving regulations, and creating a framework that accelerates trade and growth between our regions.”
The visit also addressed potential alignment with the African Continental Free Trade Area, indicating new pathways for Venezuelan products to access African markets under the continental trade framework. This reflects the growing interest in integrated commercial engagement that takes advantage of shared resources and strengthens economic ties between African countries and Venezuela.
Institutional support was another major focus. The AEC and Venezuelan officials 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 to African markets while encouraging investment in Venezuela's broader non-oil economy.
Financial support is at the heart of 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 clear, bankable framework for industrial and commercial projects.
Both sides promised to showcase Venezuela in major African trade platforms, including the Intra-African Trade Fair organized by Afreximbank and the African Energy Week 2026, where Venezuelan products and expertise can be highlighted. Capacity building workshops have been planned to strengthen skills and technical exchange, strengthening long-term trade and industrial cooperation.
The working visit marks a shift from an energy-focused 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 foundation for mutual investment, industrial growth and deeper integration in the Global South.
Ayuk said, “Our focus is on enabling trade that drives growth. By working together to remove barriers and expand commercial exchanges, we are helping to shape a future in which the African and Venezuelan economies will grow stronger through partnerships – not just in energy, but across the entire spectrum of goods, services and investment.”
Distributed by APO Group on behalf of the African Energy Chamber.