BELIZE ATTENDS 4TH PETROCARIBE SUMMIT IN CUBA

December 24, 2007

The fourth Petro-Caribe Summit was held last week in Cienfuegos Cuba.  A total of sixteen Caribbean Countries, including Belize, were represented at the bi-annual event.  According to a press release from the Government of Belize, the leaders present recognized and acknowledged the value of the Venezuelan initiative in the face of the present international economic situation with rising fuel and other commodity prices.  The release further says that PetroCaribe has proven to be more than a trade mechanism for oil supply and currently constitutes a strategic framework for energy security including cooperation to ensure efficiency and savings in the generation, distribution and consumption of energy.  The meeting noted with satisfaction the progress made in implementing the agreements reached since the first summit and also welcomed the fact that the first steps have been taken in establishing the infrastructure required for meeting the commitments arising from these agreements.  All the leaders agreed to continue with the momentum of PetroCaribe and agreed also to create within it new initiatives to decisively and tangibly contribute to economic and social development among members nations and to the wellbeing of their people.  According to the release, the PetroCaribe initiative has benefited the poorest sector of member countries and has started to produce positive results; this will remain a central objective of the initiative.  It was also agreed to include as part of the initiative, attention to literacy, healthcare, education, and housing programs.  At the end of the summit it was agreed to hold the fifth bi-annual summits in Saint Kitts and Nevis and sixth in Belize.    

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