Cuba’s Lage to
Petrocaribe Summit
Vice President Carlos
Lage is heading the
Cuban delegation to the
5th Petrocaribe Summit
opening Saturday in the
Venezuelan city of
Maracaibo, local media
reported.
During his stay in
Maracaibo, Lage will
also hold talks with
other top officials from
some 18 countries
attending the two-day
meeting.
Basic Industry Minister
Yadira Garcia, as well
as Foreign Investment
and Economic Cooperation
Minister Marta Lomas are
part of the Cuban
official delegation,
which also includes Lina
Peraza, a member of the
Cuba Communist Party
Central Committee’s
Secretariat.
The Petrocaribe two-day
meeting will discuss
ways to enhance and
implement the 2005
comprehensive
cooperation pact
covering from oil supply
to a preferential system
of payment.
The payment system
allows for member
nations to buy oil on
market value but only a
certain amount is needed
up front; the remainder
can be paid through a 25
year financing agreement
on 1% interest.
Petrocaribe was launched
in 2005 by President
Hugo Chavez. The
alliance also deals with
human resources
training, power
efficiency and the
development of renewable
power sources.
The oil pact members are
Antigua and Barbuda, the
Bahamas, Belize, Cuba,
Dominica, Grenada,
Guyana, Haiti, Honduras,
Jamaica, Nicaragua, the
Dominican Republic, St
Kitts and Nevis, Saint
Lucia, San Vicente and
the Grenadines, Surinam
and Venezuela.
Guatemala is expected to
become Petrocaribe"s 18
member at the Maracaibo
summit. |
