The African Energy Chamber (AEC) led a high-level delegation to Caracas this week to deepen cooperation with Venezuelan officials, advancing efforts to expand trade and investment ties between Africa and Venezuela beyond traditional energy links.
During meetings with Coromoto Godoy Calderón, Venezuela’s Minister of Foreign Trade, the AEC explored ways to remove regulatory barriers and boost bilateral commerce in goods, services and industrial sectors, signalling a shift toward broader South-South economic engagement.
AEC Executive Chairman NJ Ayuk said discussions focused on opening African markets to Venezuelan products as part of a “Global South–South strategy” and on creating a trade framework that goes beyond oil and gas.
The talks also touched on aligning cooperation with the African Continental Free Trade Area, offering new pathways for Venezuelan goods to enter African markets under continental trade frameworks, and emphasised institutional cooperation to attract African investment into Venezuela’s non-oil economy.
Financial collaboration was discussed, with AEC delegates engaging with the Venezuelan Export–Import Bank on possible partnerships with African regional development banks and export finance institutions to facilitate trade finance, streamline payments and reduce transaction risks.
Both sides agreed to promote Venezuelan products at major African trade events, including the Intra-African Trade Fair and African Energy Week 2026, and to hold capacity-building workshops aimed at strengthening technical and skills exchange.
The working visit marked a move from energy-centric engagement to broader market orientation, laying the groundwork for deeper economic integration, reciprocal investment and expanded commercial exchange between Africa and Venezuela.
