A mathematical model involving a syntrophic relationship between two populations of bacteria in a continuous culture is proposed. A detailed qualitative analysis is carried out as well as the analysis of the local and global stability of the equilibria. We demonstrate, under general assumptions of monotonicity which are relevant from an applied point of view, the asymptotic stability of the positive equilibrium point which corresponds to the coexistence of the two bacteria. A syntrophic relationship in the anaerobic digestion process is proposed as a real candidate for this model.