<TABLE cellSpacing=0 cellPadding=1 width="100%" border=0><TBODY><TR><TD><SPAN class=TopStory>Chavez urges Jamaica to join FTAA 'alternative'</SPAN>
<SPAN class=Subheadline></SPAN></TD></TR><TR><TD>BY MARK CUMMINGS Senior staff reporter cummingsm@jamaicaobserver.com
Wednesday, March 14, 2007
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<P class=StoryText align=justify>MONTEGO BAY, St James - Venezuelan President Hugo Chavez has urged Jamaica to join the Bolivarian Alternative for the Americas (ALBA) - widely viewed as a counter to the US-sponsored Free Trade Area of the Americas (FTAA).<P class=StoryText align=justify>In making his pitch for support during talks with Prime Minister Portia Simpson Miller and on other senior government ministers in Montego Bay on Monday, Chavez outlined a raft of benefits which he said Caribbean countries such as Jamaica would receive under the initiative.<TABLE cellSpacing=0 cellPadding=5 width=330 align=center border=0><TBODY><TR><TD></TD></TR><TR><TD><SPAN class=Description>MONTEGO BAY, St James - Venezuela's President Hugo Chavez greets Jamaican Prime Minister Portia Simpson Miller upon his arrival in Montego Bay on Monday. Chavez signed a Memorandum of Understanding (MOU) with the Jamaican leader which will see Venezuela supplying 2.5 million tonnes of Liquid Natural Gas (LNG) annually to Jamaica. Following the meeting with Simpson Miller Chavez left for a visit to Haiti to promote an aid package. </SPAN></TD></TR></TBODY></TABLE><P class=StoryText align=justify>"We invite the Caribbean countries and specifically Jamaica in joining ALBA because of the economic benefits that you can receive," said Chavez, adding that already, Cuba, Nicaragua, Bolivia and Venezuela had signed on.
Citing examples, he said, significant benefits could be achieved by member countries from the planned expansion of oil refineries, bauxite and alumina facilities as well as the petro chemical industries in the Caribbean and Latin America regions.<P class=StoryText align=justify>Under the initiative, member countries will also receive significant medical and sporting assistance.
One of the key aspects of ALBA - the brainchild of Chavez - is the Petro Caribe cheap oil deal which, in part, exchanges oil at below market price levels for a variety of services. The oil deal offers to defer payment and long-term financing for fuel shipments, in addition to fuel under preferential considerations to Caribbean nations.<P class=StoryText align=justify>Chavez first proposed the idea at Isla Margarita at the III Summit of the Heads of State and the Government of the Association of Caribbean States in December, 2001.
But while Simpson Miller on Monday endorsed the proposal, she informed Chavez that the Jamaican Government would give a formal response to the initiative after careful study of the plan.<P class=StoryText align=justify>"The principles underlying ALBA are sound," Simpson Miller said. "This multi- lateral approach that places people at the centre of development is one which Jamaica strongly supports, but we will have to study the proposal in greater detail and then we will have further discussions on it," the prime minister added.<P class=StoryText align=justify>Chavez has been fiercely critical of the US-led FTAA and sees ALBA as serving as a counterweight to it. ALBA advocates a 'socially oriented' trade block rather than one strictly based on the logic of deregulated profit maximisation. By using more effective mechanisms to eradicate poverty, ALBA - as proposed by the Venezuelan Government - provides a counterweight to the policies and goals of the FTAA.<P class=StoryText align=justify>
<SPAN class=Subheadline></SPAN></TD></TR><TR><TD>BY MARK CUMMINGS Senior staff reporter cummingsm@jamaicaobserver.com
Wednesday, March 14, 2007
</TD></TR></TBODY></TABLE>
<P class=StoryText align=justify>MONTEGO BAY, St James - Venezuelan President Hugo Chavez has urged Jamaica to join the Bolivarian Alternative for the Americas (ALBA) - widely viewed as a counter to the US-sponsored Free Trade Area of the Americas (FTAA).<P class=StoryText align=justify>In making his pitch for support during talks with Prime Minister Portia Simpson Miller and on other senior government ministers in Montego Bay on Monday, Chavez outlined a raft of benefits which he said Caribbean countries such as Jamaica would receive under the initiative.<TABLE cellSpacing=0 cellPadding=5 width=330 align=center border=0><TBODY><TR><TD></TD></TR><TR><TD><SPAN class=Description>MONTEGO BAY, St James - Venezuela's President Hugo Chavez greets Jamaican Prime Minister Portia Simpson Miller upon his arrival in Montego Bay on Monday. Chavez signed a Memorandum of Understanding (MOU) with the Jamaican leader which will see Venezuela supplying 2.5 million tonnes of Liquid Natural Gas (LNG) annually to Jamaica. Following the meeting with Simpson Miller Chavez left for a visit to Haiti to promote an aid package. </SPAN></TD></TR></TBODY></TABLE><P class=StoryText align=justify>"We invite the Caribbean countries and specifically Jamaica in joining ALBA because of the economic benefits that you can receive," said Chavez, adding that already, Cuba, Nicaragua, Bolivia and Venezuela had signed on.
Citing examples, he said, significant benefits could be achieved by member countries from the planned expansion of oil refineries, bauxite and alumina facilities as well as the petro chemical industries in the Caribbean and Latin America regions.<P class=StoryText align=justify>Under the initiative, member countries will also receive significant medical and sporting assistance.
One of the key aspects of ALBA - the brainchild of Chavez - is the Petro Caribe cheap oil deal which, in part, exchanges oil at below market price levels for a variety of services. The oil deal offers to defer payment and long-term financing for fuel shipments, in addition to fuel under preferential considerations to Caribbean nations.<P class=StoryText align=justify>Chavez first proposed the idea at Isla Margarita at the III Summit of the Heads of State and the Government of the Association of Caribbean States in December, 2001.
But while Simpson Miller on Monday endorsed the proposal, she informed Chavez that the Jamaican Government would give a formal response to the initiative after careful study of the plan.<P class=StoryText align=justify>"The principles underlying ALBA are sound," Simpson Miller said. "This multi- lateral approach that places people at the centre of development is one which Jamaica strongly supports, but we will have to study the proposal in greater detail and then we will have further discussions on it," the prime minister added.<P class=StoryText align=justify>Chavez has been fiercely critical of the US-led FTAA and sees ALBA as serving as a counterweight to it. ALBA advocates a 'socially oriented' trade block rather than one strictly based on the logic of deregulated profit maximisation. By using more effective mechanisms to eradicate poverty, ALBA - as proposed by the Venezuelan Government - provides a counterweight to the policies and goals of the FTAA.<P class=StoryText align=justify>
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