Seventh ALBA Summit in Bolivia

Cochabamba, Bolivia, Oct 16 (Prensa Latina) Faithful to traditions of hospitality, the people of Cochabamba, in Bolivia, welcome proudly Friday the Seventh Summit of the Bolivarian Alliance for the Peoples of Our America (ALBA).

  The fifth anniversary of that regional integration mechanism and the participation for a first time of social movements in a meeting attended by leaders from 40 countries gives the forum a special nuance.

The meeting will approve a single currency: Regional Single Compensation System (SUCRE), for trade exchange.

Delegations from Bolivia, Cuba, Venezuela, Ecuador, Nicaragua, Honduras, Dominica, Saint Vincent and the Grenadines, and Antigua and Barbuda will also create an arbitration court, to substitute the International Center for Settlement of Investment Disputes (ICSID), of the World Bank.

They will also debate just trade to foster the Peoples’ Trade Agreements and Free Trade Agreements.

Delegations of Paraguay, Uruguay, Dominican Republic, Haiti and Russia will attend the meeting as observers.

ALBA statesmen will also discuss a draft declaration, with the initiative of Bolivia, about policies and procedures to protect Mother Land.

The First Meeting of Productive Complementarity and a Negotiation Round with the participation of ALBA business people was also among the Seventh Summit’s collateral activities.

Among the first presidents arriving in the central Bolivian city is that of Ecuador, Rafael Correa, accompanied by officials, indigenous and social movements leaders, who visited on Thursday a mining zone in Huanuni, Oruro.

Dominica’s Prime Minister Roosevelt Skerrit, Saint Vincent and the Grenadines’ Ralph Gonsalves, and Antigua and Barbuda’s Winston Baldwin Spencer, also arrived in this city to attend the forum.

Apart from Ecuador and the three Caribbean islands, ALBA is comprised of Bolivia, Venezuela, Cuba, Nicaragua, and Honduras.

According to the Summit’s agenda, the first statesmen and representatives of those countries will analyze the issue of the expansion of US military bases in Colombia, and issue a statement on the political crisis unleashed in Honduras.

The ALBA was created by Venezuela and Cuba in 2004, as an alternative proposal to the US-boosted free trade agreement in the region, and strengthens alliance among similar nations.

Source: Prensa Latina

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