Venezuela and Algeria create business council to execute strategic agreements

The Minister of Popular Power for Foreign Affairs of the Bolivarian Republic of Venezuela, Yván Gil, on the 55th anniversary of the establishment of diplomatic relations with the Democratic and Popular Republic of Algeria, announced this Tuesday that both nations will take a strategic step with the creation of a business council that will allow the execution of “signed trade agreements” and consolidate alliances in key sectors, such as energy, agriculture and agro-industry, thus promoting the complementation of our economies”.

“Throughout these five and a half decades, Venezuela and Algeria have shared solid positions in major international causes; from the struggle for a just solution for Palestine and Western Sahara to the defense of fair prices for energy resources, under the principles of sovereign equality of States and the free self-determination of our peoples. Our relationship is political and tangible, through concrete actions,” said the Venezuelan foreign minister from the central event held at the Yellow House “Antonio José de Sucre”, recalling that to date Caracas and Algiers have held five joint commissions and signed 55 instruments of cooperation in the cultural, energy, commercial, scientific, educational, electoral, environmental, air and maritime transport fields, among others.

Under this narrative, Gil emphasized that the parties remain committed to “deepening these ties through high-level technical exchange for mutual benefit.”

The relations between Venezuela and Algeria - which date back to March 23, 1971 - are an interesting example of how two countries, geographically distant, can build an alliance based on common strategic interests, reflecting a broader trend: the search for new balances between peoples of the Global South that attempt to reduce their dependence on traditional centers of power.

“We can highlight the development that Algerian-Venezuelan relations have experienced and the path taken... Beyond the level of bilateral cooperation, these are precisely 55 years of friendship, fraternity and mutual respect that our peoples celebrate today,” said the Algerian ambassador accredited to Caracas, Farouk Benmokhtar.

Algeria, with its weight in North Africa, and Venezuela, as a relevant actor in Latin America, share the “same principles, values and positions, dealing in particular with the defense of just causes and the right of peoples to self-determination, freedom and development,” added the ambassador, referring to the fact that cooperation will be expanded in the future.

MPPRE