PETROCARIBE, a Step toward Regional Integration
Seen as a step toward regional integration, Caribbean leaders and Venezuela´s President Hugo Chávez will start discussing Tuesday in Puerto la Cruz the implementation of PETROCARIBE, an ambitious cooperation project.

President Chavez, main promoter of the gathering that will bring several chiefs of state and government and energy ministers together, rated PETROCARIBE as one of the largest regional geopolitical projects.

Far from being a commercial agreement, the initiative aims to foster integration of this geopolitical bloc through a plan for the rational use of energy that will also include oil prospecting, installations, and supply.

The president also said in his habitual Sunday program "Aló Presidente," the two-day gathering will examine current conditions and willingness for the establishment of the oil venture.

The meeting in Puerto la Cruz, 187 miles northeast of Caracas, is a follow up of two previous preparatory gatherings in the Venezuelan capital and Montego Bay, Jamaica, last year.

Among other points in their agenda, participants will set up PETROCARIBE´s Ministerial Council, the project´s guiding body made up of energy ministers from member countries.

The Council will elect a Presidency that will be chaired by the country chosen as host till the next meeting.

Among its functions, the Ministerial Council will design the project´s long term strategies, assign tasks, define needed responsibilities, address issues of common interest and accept the entry or removal of members.