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Venezuela and Jamaica Ratify Economic Engagement, PetroCaribe

Press Releases — April 09, 2014

Secretary of TCP ALBA and president of PDV Caribe, SA, Bernardo Alvarez, said Wednesday a working meeting with the Prime Minister of Jamaica, Portia Simpson, which ratified the strong commitment of both nations to deepen economic relationship through the compensation mechanism of long-term oil bill under PetroCaribe.Also evaluated the potential to strengthen the PetroCaribe ALBA Economic Zone.

Alvarez explained that in this sense, the technical teams are discussing transportation systems that would be available in the short term to ensure the effectiveness of trade and compensation.

The head of PDVSA subsidiary highlighted the presence of a Venezuelan delegation EXPOJAMAICA 2014, an event that will be held in Kingston, from 3 to 6 April, to assess the potential for exchange of products, goods and services, through the compensation mechanism between the two countries. Also, meetings are being conducted to evaluate opportunities to incorporate several member countries of PetroCaribe.

Meanwhile, the Jamaican Prime Minister Portia Simpson said the political will of the country to deepen the relationship with Venezuela, while recalling the memory of Commander Hugo Chavez, and his friendship with the Venezuelan government and President Nicolas Maduro.

The meeting was attended by the Minister for Trade, Investment and Industry of Jamaica, Anthony Hilton; Minister of Finance and Planning, Peter Phillips; Ambassador of Venezuela to the Caribbean Community (Caricom), Raul LiCausi; and Ambassador of Venezuela in Jamaica, Jaqueline Maria Mendoza.

Development and integration

Also, Alvarez met with the executive director of the PetroCaribe Development Fund in Jamaica, Wesley Hughes, with the aim of discussing concrete steps to consolidate programs PetroCaribe Economic Zone and its extension to the ALBA countries.

In this regard, he reported on the establishment of the Regional Distributor Supplies Caribbean CA (COMSURCA), no oil subsidiary engaged in international marketing for the area of ​​PetroCaribe, from the productive chain to both public and private companies.

During the next few days, the Venezuelan delegation will hold meetings with representatives of the PetroCaribe Development Fund to advance bilateral cooperation projects to be presented in a high-level meeting that will take place during the month of May in Caracas.

Original story: http://www.noticias24.com/venezuela/noticia/232213/venezuela-y-jamaica-ratificaron-compromiso-economico-en-petrocaribe/

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