Patterson says Venezuela oil accord should forge closer ties
JAMAICA Prime Minister P. J. Patterson has described the Caracas Oil Accord he has signed as a meaningful first step in the process of achieving greater Latin American and Caribbean collaboration, the Jamaica Observer newspaper reported yesterday.
Noting that all the countries which signed the accord Thursday were also members of the Association of Caribbean States and pledged to pursue practical co-operation in trade, tourism and transportation, Patterson said the new accord would make it possible to explore co-operation in other areas such as the development of natural resources and education.
The Prime Minister said he was encouraged by Venezuela's undertaking to admit other Caribbean Community (CARICOM) countries to the accord, so that it would become more inclusive, according to the Observer.
"The Caribbean and Latin American region," he said, "must continue to pursue its common goals and should make its voice increasingly heard in the world's international forums."
"We are separate nations," Patterson said, "but we subscribe to and believe in common goals of human dignity and social and economic progress."
Patterson was among 10 heads of government of Caribbean and Latin American countries to sign the Caracas Energy Accord, under which Venezuela will provide oil on preferential financing terms.
The accord will establish a scale of prices for setting preferential percentages for financing long-term, low-interest loans to each country, based on the amount of oil purchased.
The Observer said the quantum of loans will range from 10-25 per cent of the amount paid for the oil, depending on the prices paid, with a one-year grace period and repayments extending over 15 years.
The countries at Thursday's signing were Panama, Costa Rica, El Salvador, Honduras, Dominican Republic, Haiti, Jamaica, Guatemala, Nicaragua and Belize.
Cuba is expected to sign the accord when President Fidel Castro makes a state visit to Venezuela this week.
 Follow the goings-on in Guyana
|