CubaMinrex. Sitio del Ministerio de Relaciones Exteriores de Cuba

ALBA Expands and Strengthens Regional Integration

CUBA, June 25, 2009. The countries with the Bolivarian Alternative for Our Americas (ALBA) decided to set up an economic zone and to expand the organization´s membership with the joining of three new countries, which strengthens regional integration.

Some of the agreements adopted at the extraordinary summit in the Venezuelan city of Maracay included the consolidation of an economic zone and an Economic Complementation Council, according to PL news agency.

According to the final declaration of the Summit the new body will be set up next July 24 and will meet every months while it works will focus on economic planning, exchange and productive investment as well as cooperation program in the context of the ALBA.

Participants called on the committees in charge of the setting up of a unique exchange currency known as Unique Regional Compensation System (SUCRE) to sign during the next summit a treaty setting up that mechanism in order to boost the commercial zone.

San Vincent and the Grenadines, Antigua and Barbuda joined the ALBA during the Maracay summit. The organization now has 9 member states.

The strengthening of the regional integration mechanism takes place amidst world economic difficulties and the need in the region of more unity an cooperation. The consolidation of the ALBA was also expressed by the participation of Paraguay and Grenada as observers. (Cubaminrex- ACN)

The ALBA Proves the Construction of a New World, said Ecuador´s Rafael Correa

CUBA, June 24, 2009. The Bolivarian Alternative for Our Americas (ALBA) is the proof of the ongoing construction of a new world, said Ecuador´s President Rafael Correa after signing the document that made official his country´s joining of the regional integration mechanism.

During the extraordinary ALBA Summit, underway in Maracay, Venezuela President Correa said that “some 200 years ago our republics started their march towards independence and today we understand that the best homage we can pay to that independence effort is subscribing our membership to this integration mechanism.”

Following the reading of a document of intention by Ecuadoran Foreign Minister Fander Falconi, Correa stamped his signature making his country the seventh member of the regional integration bloc, Venezuelan media reported.

After the resounding failure of the US-led Free Trade Area of the Americas we will negotiate treaties in the interest of our countries´development, said the Ecuadoran President, who considers the ALBA a historic process aimed at promoting equality and the best use of natural resources by Latin American countries.

Along with Ecuador Saint Vincent and the Grenadines and Antigua and Barbuda joined the Bolivarian Alternative for Our Americas, which now has nine member states. (Cubaminrex- ACN)

 

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