Friday, April 26, Elias Jaua, Venezuelan Foreign Minister called on Member States beneficiaries of Petrocaribe to participate on Saturday, May 4, to a new summit, to be held on Margarita Island in the state of Nueva Esparta in Venezuela. Invitation confirmed by Venezuelan President Nicolas Maduro on his return from Cuba, where he made ​​a short visit last weekend.

Recall that the Petrocaribe program, which aims to provide fuel to Caribbean and Central America at preferential rates, was established by the late President Hugo Chavez on June 29, 2005 after the energy cooperation agreement signed by 14 Caribbean nations during the first meeting of the energy of heads of State and Government on PetroCaribe. The agreement now includes 17 beneficiary states.

The President Michel Martelly should leave Haiti in the coming days to Venezuela to take part in the PetroCaribe Summit, where will be present the 17 Heads of State of the countries benefiting from this agreement: Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Dominican Republic, St. Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Suriname.

The last meeting of PetroCaribe member countries took place in December 2011 in Caracas.

Learn more about the functioning of PetroCaribe :

Recall that the Bureau of Monetization plays the role of intermediary between the provider Venezuelan PDVSA Petroleo SA and the local oil companies in Haiti. The nomination of volumes and ship, billing and collections are made through the Office of Monetization. Oil companies in Haiti, are paying the State 100% of the FOB value of the cargo. According to the price of a barrel on the international market, the Haitian Government transfer 40% to 70% of the amounts collected, to the PDVSA Petroleo SA. The remaining, 60% to 30% must be paid by Haiti, over 25 years to an annual interest rate of 1% after a grace period of 2 years.

See also :

https://www.haitilibre.com/en/news-8110-haiti-economy-haiti-owes-$938-million-to-venezuela.html

HL/ HaitiLibre