Havana, Cuba. - Cuban and Venezuelan presidents Fidel Castro and Hugo Chavez signed the founding agreement of the Bolivarian Alliance for the Peoples of Our America (ALBA) on December 14 2004. They thus made the solidarity and integration dreams for which Bolivar and Marti fought come true.

Now, after the first five years, the family has grown and 9 States of the region are bound together in the hope of building a better world that is indeed possible.

ALBA is an integration proposal that does not serve the interests of transnational capital. It attaches priority to the struggle against poverty and social exclusion. Therefore, it truly expresses the interests of Latin American and Caribbean peoples.

It is based on cooperation through compensatory funds to correct the disparities that place weak countries in disadvantage with regard to the great powers.

Bolivia, Nicaragua, Dominica, Honduras, St. Vincent and the Grenadines, Ecuador and Antigua and Barbuda have joined the founders of the Bolivarian Alliance for the Peoples of America, Cuba and Venezuela.

Its consolidation has not been exempt of threats and challenges. More than 100 projects are operational in several countries, strictly observant of the principle of widest possible solidarity.

It is very meaningful that ALBA decided to create a common currency in the midst of the acute world economic and social crisis. It will be effective as of January 1 2010 and is called SUCRE (Unique System of Regional Compensation). Rather than an ordinary physical currency, it is meant to be a virtual currency for the creation of a common accounting unit.

A brief summary reveals that bilateral trade agreements and ALBA development programs stand out in this first 5 years term. Their goals are, among others, the expansion of oil trade and energy networks; transportation and infrastructure projects and the establishment of a single bank and currency.

Likewise, they are working to promote financial investments and credits among member countries, as well as endogenous and sustainable basic and light industry development. Other relevant goals are environmental education and natural resources preservation and the opening of the Latin American Institute of Food Sovereignty and Agrarian Reform. These are meant to improve land use and the agricultural potential resources of each country.

Health care and education projects are already reaping their fruits, particularly in the humblest Latin American and Caribbean sectors.

Oil companies, like Petroandina, Petrocaribe and Petrosur, which provide payment facilities, were founded to guarantee regional energy development. The Great Southern Pipeline, where Venezuela, Argentina, Brazil and Bolivia participate, seeks to achieve Latin American energy freedom. These companies portray the expansion of the ideas envisaged in this integration modality.

Venezuela has signed energy cooperation agreements with several Caribbean and Latin American nations through Petrocaribe. Their preferential prices and payment conditions are distinct expressions of solidarity.

In forthcoming commentaries, we will further elaborate on ALBA’s objectives and achievements in this first half decade.


Translated by: Pedro A. Fanego

( 03.12.2009 10:13 AM )