18th December 2013
The 2nd Summit of the Bolivarian Alliance for Our America (ALBA) and Petrocaribe took place in Caracas yesterday. It focused on creating a “special complementary economic zone” between the member countries of both alliances in order to eradicate poverty in the region.
The creation of the economic zone was raised in the meeting of Petrocaribe in May of this year, and proposed by Venezuelan president Nicolas Maduro to the ALBA heads of state summit in July of this year. Yesterday’s summit approved an action plan to implement the proposal, which will involve cooperation with the UN Food and Agriculture Organisation (FAO).
New monetary exchange methods using local currencies and other systems such as the regional SUCRE currency
When the summit’s final declaration (included at the end of this article) was passed unanimously, Maduro said the economic zone “is a special plan… in order to continue advancing…
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