International analysts have raised ļ¾ concerns that the establishmenbt of the PetroCaribe Alliance, which the Bahamas signed last week, may have far-reaching implications by being the first step to an alternative to the Free Trade Agreement of the Americas (FTAA).
At the signing of the PetroCaribe agreement, which will supply the Latin American and Caribbean member nations with cheaper oil, Venezuelan Foreign Minister Ali Rodriguez said that PetroCaribe was part of “a long term vision, aimed at creating the Bolivarian Alternative for the Americas (ALBA) in opposition to the Free Trade Agreement of the Americas.”
During the meeting Venezuelan Prime Minister Hugo Chavez was also reported to have repeatedly criticised the United States’ energy consumption as “wasteful” and “exaggerated”.
Minister of Trade and Industry Leslie Miller, however, yesterday told The Tribune that the signing of the PetroCaribe agreement is not equal to the Bahamas taking the first steps toward joining ALBA.
Furthermore, he assured the Bahamian people, that the country has only signed on to PetroCaribe, adding that there “were absolutely no discussions” about ALBA.
Source: The Tribune
