ALBA, Petrocaribe, and Caricom
Issues in a New Dynamic
This chapter focuses on the nature of ALBA's mission and program, and on the kind of cooperation arrangements that are likely to be of particular interest to Caricom countries. The Bolivarian Alternative for the Americas, or ALBA, is an alternative to the U.S.-sponsored neoliberal model of economic integration based on trade and investment liberalization. It also reviews the scope and magnitude of financial cooperation, the existence of non-reciprocity, the scope of social cooperation, the role of Petrocaribe, and the recent incorporation of food security into the ALBA cooperation program. One of the most significant recent developments in regional affairs is the growth of relations between several Caricom states and the Venezuelan promoted ALBA and Petrocaribe initiatives. The chapter discusses the difficulties of agreement in a community with divergent interests among its members and also emphasizes the value of coordinated Caricom policies on ALBA and other external economic relations.
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