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Venezuela Boosts Regional Energy Integration

Havana, Aug 21 (AIN) Venezuelan President Hugo Chavez will travel to Jamaica on Tuesday to further boost the implementation of his energy integration program known as Petrocaribe.

During his weekly "Alo Presidente" TV program, aired live Sunday from Pinar del Rio, Cuba, President Chavez stressed the benefits of Petrocaribe as an integration mechanism. He said he would meet with Jamaica's Prime Minister Percival Patterson to prepare the signing of bilateral accords between Venezuela and the rest of the participating Caribbean countries.

The Venezuelan President described as interesting and dynamic his exchange in Cuba with heads of state and ministers from other Caribbean nations who also attended the graduation Saturday of the Havana-based Latin American School of Medicine.

He said that Petrocaribe is a very important program within the Bolivarian Alternative for the Americas initiative, which emphasizes social aspects and economic cooperation while stressing solidarity.

The ALBA (the project's initials in Spanish) is seen as an alternative to the failing Free Trade Area of the Americas promoted by the US. Chavez also referred to the setting up of a subsidiary of Venezuela's PDVSA Oil Enterprise under the name PDV Caribe. He added that he already has drawn up a cooperation program to support regional integration.

Chavez went on to cite some of the major difficulties facing Caribbean countries such as the measures imposed by the World Trade Organization and recalled the case of a country which was forced to close all of its sugar mills.

Chavez said that tourism has fallen in the region as countries which used to earn 100 million dollars in terms of banana sales are currently earning only 50 million, and are also affected by the devaluation of the US dollar.

These countries are facing a real tragedy, said the Venezuelan leader, while emphasizing that Petrocaribe is a necessary tool for integration, offering opportunities for sister nations such as Jamaica, Dominica, Cuba, Saint Vincent and the Grenadines, Saint Kitts and Nevis and others.