Alianza Bolivariana para los Pueblos de Nuestra América - Tratado de los Comercios de los Pueblos (Spanish)
Bolivarian Alliance for the Peoples of Our America - Peoples’ Trade Treaty
|-||Cuba–Venezuela Agreement||14 December 2004|
|-||People's Trade Agreement||29 April 2006|
970,405 sq mi
|GDP (PPP)||2008 estimate|
|Time zone||(UTC-4 to -6)|
ALBA (formally, the Bolivarian Alliance for the Peoples of Our America - Peoples’ Trade Treaty (Spanish: Alianza Bolivariana para los Pueblos de Nuestra América - Tratado de los Comercios de los Pueblos) is an intergovernmental organization based on the idea of the social, political and economic integration of the countries of Latin America and the Caribbean. The name "Bolivarian" refers to the ideology of Simón Bolívar, the 19th-century South American independence leader born in Caracas who wanted the continent to unite as a single "Great Nation." Founded initially by Cuba and Venezuela in 2004, it is associated with socialist and social democratic governments wishing to consolidate regional economic integration based on a vision of social welfare, bartering and mutual economic aid. The nine member countries are Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Nicaragua, Saint Vincent and the Grenadines, Venezuela and Saint Lucia. Suriname was admitted to ALBA-TCP as a guest country at a February 2012 summit. ALBA-TCP nations may conduct trade using a virtual regional currency known as the SUCRE. Venezuela and Ecuador made the first bilateral trade deal using the Sucre, instead of the US dollar, on July 6, 2010.
The name initially contained "Alternative" instead of "Alliance", but was changed on June 24, 2009.
The agreement was proposed by the government of Venezuela, led by President Hugo Chávez, as an alternative to the Free Trade Area of the Americas (FTAA or ALCA in Spanish), a proposal by the United States that was opposed by several countries and the region and inspired massive popular protests.
The Cuba-Venezuela Agreement, signed on December 14, 2004, by Presidents Hugo Chávez and Fidel Castro, was aimed at the exchange of medical and educational resources and petroleum between both nations. Venezuela began to deliver about 96,000 barrels of oil per day from its state-owned oil company, PDVSA, to Cuba at very favorable prices and Cuba in exchange sent 20,000 state-employed medical staff and thousands of teachers to Venezuela's poorest states. The agreement also made it possible for Venezuelans to travel to Cuba for specialized medical care free of charge.
When it was launched in 2004, ALBA had two member states, Venezuela and Cuba. Subsequently a number of other Latin American and Caribbean nations have entered into this Peoples' Trade Agreement (Spanish: Tratado de Comercio de los Pueblos, or TCP) which aims to implement the principles of ALBA. Afterwards the two were merged when Bolivia joined and ALBA was renamed ALBA-TCP. Bolivia under Evo Morales joined in 2006, Nicaragua under Daniel Ortega in 2007, and Ecuador under Rafael Correa in 2009. Honduras, under Manuel Zelaya, joined in 2008, but withdrew in 2009 after the 2009 Honduran coup d'état. The Caribbean nations Antigua and Barbuda, Dominica, Saint Vincent and the Grenadines and Saint Lucia also joined.
Countries that been invited to join the ALBA-TCP countries have included at times: Jamaica at the invitation of the President of Venezuela, Hugo Chávez, Mexico at the invitation of the President of Nicaragua, Daniel Ortega, Hugo Chávez also invited the countries of Central America to join, and also invited was Argentina to use the currency (SUCRE) of this organization. Vietnam has been invited to join as an observer. In the XI Summit of ALBA in February 2012, it was requested the addition of Suriname, St. Lucia and Haiti to the organization. Haiti was granted the special status of permanent member; while the other two countries were named special members, while awaiting their full incorporation.
President Chávez was honored posthumously by the nine member countries of the group and special guests Uruguay, Argentina, Brazil, Suriname, Guyana and Haiti at the group's 12th Presidential Summit in Guayaquil, Ecuador.
In December 2008, ALBA-TCP member countries met to approve the technical details of the introduction of the new currency that was named SUCRE.
In October 2009, ALBA-TCP leaders agreed during a summit in Bolivia to create a common regional currency. "The document is approved," said Bolivian President Evo Morales, the summit host. President Hugo Chávez announced "The sucre - an autonomous and sovereign monetary system that will be agreed upon today so that it can be implemented in 2010." The three Caricom member states which are currently using the Eastern Caribbean Dollar have all agreed to use the new proposed SUCRE as a common currency for electronic transactions amongst ALBA-TCP members rather than the US dollar. These countries will not be issuing bills in SUCRE, it will instead be used for electronic payment, and each country can withdraw the equivalent in its own currency.
||GDP PPP (US$ bn)
|Antigua and Barbuda||Antigua and Barbuda||2009-06-24||85,632||442||1.575||St. John's|
|Bolivia||Plurinational State of Bolivia||2006-04-29||9,119,152||1,098,581||50.904||La Paz|
|Cuba||Republic of Cuba||2004-12-14||11,451,652||110,861||114.1||Havana|
|Dominica||Commonwealth of Dominica||2008-01-20||72,660||754||.977||Roseau|
|Ecuador||Republic of Ecuador||2009-06-24||14,573,101||256,370||134.805||Quito|
|Nicaragua||Republic of Nicaragua||2007-02-23||5,891,199||129,495||18.878||Managua|
|Saint Lucia||Saint Lucia||2013-07-20||180,870||617||2.101||Castries|
|St. Vincent and the Grenadines||Saint Vincent and the Grenadines||2009-06-24||120,000||389||1.259||Kingstown|
|Venezuela||Bolivarian Republic of Venezuela||2004-12-14||28,199,825||916,445||374.111||Caracas|
|ALBA-TCP Totals||9 Countries||–||69,513,221||2,513,337||636.481|
- Carib Journal St Lucia Officially Joins ALBA August 9, 2013
- venezuelanalysis, 7 July 2010, Venezuela Pays for First ALBA Trade with Ecuador in New Regional Currency
- "ALBA pasa a ser Alianza Bolivariana de los Pueblos de América" (in Spanish). Venezolana de Televisión. June 3, 2009. Retrieved 2009-06-30.
- http://www.mltoday.com/Pages/NLiberation/Cuba-VenezPact.html/ initial Cuba-Venezuela TCP
- Monthly Review, 2 July 2008, ALBA: Creating a Regional Alternative to Neo-liberalism?
- Americas Quarterly, "Twelfth ALBA Presidential Summit Takes Place in Ecuador," July 30, 2013. http://www.americasquarterly.org/content/twelfth-alba-presidential-summit-takes-place-ecuador
- Bolivia summit adopts new currency - Americas - Al Jazeera English
- El Universal, 6 February 2012, ALBA summit ends with entry of guest countries
- Haiti Willing to become Full ALBA Member
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- (Spanish) Official website