Creation of a Petrocaribe economic zone is announced

Criado em 04/06/13 10h39 e atualizado em 04/06/13 11h20
Por Leandra Felipe Edição:Beto Coura/Lícia Marques Fonte:Correspondent for Agência Brasil

Bogotá – Venezuela's president Nicolás Maduro announced during a weekend visit to Nicaragua that an economic zone for the Petrocaribe Energy Cooperation Agreement will be established to become effective by the end of June.
   
Founded in 2005 by former Venezuelan president Hugo Chávez, Petrocaribe is an alliance established to facilitate selling Venezuelan petroleum at lower prices to 17 countries – Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Dominican Republic, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Saint Lucia, and Suriname.

By creating an economic zone, the group intends to expand trade and economic cooperation agreements in the bloc area.

President Maduro expects the new economic zone to strengthen member countries of the Bolivarian Alliance, a regional integration bloc founded by Chávez. According to Maduro, further details of economic integration will be announced during the Petrocaribe Summit to be held in Managua, Nicaragua, on June 29.

Edition: Beto Coura/Lícia Marques
Translation: Mayra Borges / Allen Bennett

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