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A New Plan for Petrocaribe

By Federico Mazzella ,
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  Integration Blocs n229 The Caribbean

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The 10th Petrocaribe Summit was held on September 7 in Montego Bay, Jamaica. At the summit, the heads of state of the member countries[1] passed (in Spanish) Venezuela’s proposal for the formulation of a comprehensive plan for the next ten years. The objectives of this plan are to consolidate the Petrocaribe Economic Zone (ZEP), ensure energy sovereignty, and create a social protection system and a shared civil defense system against natural disasters for the Caribbean. The plan also contemplates exchanges in the spheres of transport, communications, production integration, tourism, trade, and social and cultural integration. Furthermore, the Petrocaribe Economic Council will be created in order to stimulate economic, commercial, financial, and social development.

[1] Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, the Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Venezuela.

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