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ALBA

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The Bolivarian Alternative for the People of Our America (Spanish: Alternativa Bolivariana para los Pueblos de Nuestra América or ALBA - which also means 'dawn' in Spanish) is an international cooperation organization based upon the idea of social, political, and economic integration between the countries of Latin America and the Caribbean.

The agreement was initially proposed by the government of Venezuela as an alternative to the failed Free Trade Area of the Americas (FTAA or ALCA in Spanish) proposed by the United States. Venezuela, Cuba, Nicaragua and Bolivia have entered into this Peoples' Trade Agreement (Spanish: "Tratado de Comercio de los Pueblos", or TCP) which aims to implement the principles of ALBA between those four nations. However, Nicaragua is also a member of the Central America Free Trade Agreement (CAFTA).

Map of participants in the ALBA
ALBA Member States
Cuba Cuba
Venezuela Venezuela
Nicaragua Nicaragua
Bolivia Bolivia
Honduras Honduras
Antigua and Barbuda Antigua and Barbuda
Saint Vincent and the Grenadines St. Vincent and the Grenadines
Dominica Dominica

The adjective Bolivarian refers to general Simón Bolívar, who is revered as a hero throughout Spanish-speaking Latin America for his leadership of independence movements against Spanish colonial power. In addition, Bolívar's thought about justice and equality in all America are the major axis in the ideology of Bolivarianism.

Unlike other free trade agreements, the ALBA represents an attempt at regional economic integration that is not based primarily on trade liberalization but on a vision of social welfare and mutual economic aid.

The Cuba-Venezuela Agreement [1], which was signed on December 14, 2004, by Presidents Hugo Chávez and Fidel Castro, was aimed at the exchange of medical resources and petroleum between both nations. Venezuela delivers about 96,000 barrels of oil per day from its state-owned petroleum operations 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.

President Evo Morales of poor but gas-rich Bolivia joined the TCP on April 29, 2006, only days before he announced his intention to nationalize Bolivia's hydrocarbon assets.[2] Newly elected President Daniel Ortega of Nicaragua signed the agreement in January 2007;[3] Venezuela agreed to forgive Nicaragua's US$31 million debt as a result. On February 23, 2007, Ortega visited Caracas to solidify Nicaragua's participation in ALBA.[4]. Rafael Correa, the president of Ecuador, signed a joint agreement with Hugo Chávez, to become a member of ALBA once he became president,[5] but as of 2008 Ecuador has not joined the organization.

The Prime Minister of Antigua and Barbuda, Baldwin Spencer, has hailed the signing of the trade agreement with Venezuela as a significant historical milestone in relations between the Caribbean and Latin America. He along with the Prime Ministers of Dominica and St. Vincent and the Grenadines signed onto ALBA.

In January 2008, the Caribbean island nation of Dominica joined ALBA.[6]

On August 25, Honduran President Manuel Zelaya signed an agreement to join the ALBA, with a rally in front of the Presidential House that was attended by many of the presidents of the countries that are part of ALBA, including Chávez and Morales.[7]. Congress approved ALBA on October 9, 2008.[8]

On December 2008, ALBA member countries meet again to approve the technical details of the introduction of the new currency that was named SUCRE (Unique System for Regional Compensation).

No need for the dollar they will soon be using sucre as a form of money and some reports say it could start out electronical at first but not sure yet.

See also

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References

  1. ^ http://www.mltoday.com/Pages/NLiberation/Cuba-VenezPact.html/ initial Cuba-Venezuela TCP
  2. ^ BBC NEWS | Americas | Leftist trio seals Americas pact
  3. ^ venezuelanalysis.com | Venezuela News, Views, and Analysis
  4. ^ Prensa Latina
  5. ^ Venezuelan and Ecuadorian Presidents Seal Friendship with Joint Declaration | venezuelanalysis.com
  6. ^ Fuller, Mike. "Dominica Joins ALBA Revolution". Retrieved 2008-01-28. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
  7. ^ http://www.plenglish.com/article.asp?ID={572E71EE-08F1-4328-A8C2-83D8840AC033}&language=EN
  8. ^ Bajo presiones, Congreso ratifica adhesión a la Alba