JAMAICA’s Science, Technology, Mining and Energy Minister Phillip Paulwell has praised the Government of Venezuela for the support the Region has been receiving through the PetroCaribe deal.Paulwell noted his gratitude during yesterday’s opening of the Fifth Special Council for Trade and Economic Development (COTED) Meeting on Energy at the Caricom Secretariat at Liliendaal, Greater Georgetown.
He told the gathering of diplomats and regional Energy Ministers that the deal has been of tremendous benefit to the Region.
In 2005, the world witnessed the birth of PetroCaribe as an Energy Cooperation Agreement signed by 14 countries that were already concerned about global economy trends and, particularly, about policies and practices prevailing in industrialised countries that could lead to more exclusion of the Third World smaller countries with economies that are more dependent on international developments.

Presidents from the Caribbean Region have envisaged that this situation entailed the need of having secure energy supply channels.
Today, the concern of the 14 signatory countries has not only been confirmed, but has consolidated a cooperation mechanism that goes beyond energy security: the political will of the 14 Presidents has forged a shield to defend millions of human beings against misery.

Under the premises of fair trade, complementariness, solidarity, social justice and common will to develop, this regional integration initiative is still the only true alternative that developing countries have to get secure and reliable access to energy sources.

Most Presidents in the Region have clearly understood the situation. As a consequence of this, 18 countries are now part of this initiative. The signatories to the agreement are Jamaica, Antigua and Barbuda, Honduras, the Bahamas, Belize, Nicaragua, Cuba, Dominican Republic, Dominica, St Kitts and Nevis, Grenada, St Vincent and the Grenadines, Guatemala, Saint Lucia, Guyana, Suriname, Haiti, and Venezuela
All of them are representatives of the so-called Third World, that part of the planet where, according the World Bank’s figures, 70 per cent of the consumption basket of one poor inhabitant is spent in food and energy.
“We are forever indebted and grateful to the Government and People of Venezuela,” the Jamaican Science, Technology, Mining and Energy Minister said.

(By Tajeram Mohabir)