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Alba and PetroCaribe create a common economic area

CARACAS. The presidents and heads of government of the Bolivarian Alliance for the Americas (Alba) and of PetroCaribe, approved yesterday the creation of a common economic area which they plan to expand so as to also incorporate the Mercosur.

As he read the final declaration, the Venezuelan president, Nicolas Maduro, stressed the creation of “this great economic area” as “one of the most important things that perhaps are being started at this time in our America.”

The President contrasted this common area with the free trade treaties pushed by the “imperialism” and he said that he would search for “shared development, really fair, just and complementary.”

“It is the only way to start getting over the so-called asymmetries (….), inequalities, unfairness that is the product of the historical processes of the size of our economies,” he said.

Maduro committed himself to take this initiative as one of the strong points of the summit of the presidents of the Mercosur which will be held in January in Caracas, under the pro-tem presidency of Venezuela.

In the meeting they approved the creation of a shared authority that will be coordinated by Ecuador and made up of Jamaica, Dominica, Nicaragua, and Venezuela which will be the directing agency for the process of creation of the economic zone.

Source: DiarioLibre.com

Category: DR News |

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Last updated December 5, 2016 at 5:41 PM
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