ALBA: a Relevant Model

Published on political affairs pa, by Noel Manzanares Blanco, Oct. 22, 2009.

The results of the recently concluded 7th Summit of the Bolivarian Alliance for the Peoples of Our America-Peoples’ Trade Agreement (ALBA-TCP) held in Cochabamba, Bolivia, show that it’s possible to work for a new world economic order.

At a time when the international financial schemes have shown their unfeasibility, the agreement reached at the Alliance with regard to the Unitary System (instead of single-monetary system) for Regional Compensation (SUCRE for its Spanish acronym) that will come into force on January 1st, 2010, was very important.

Thus, the group made up by Venezuela, Cuba, Bolivia, Nicaragua, Saint Vincent and the Grenadines, Honduras, Ecuador, Dominica and Antigua and Barbuda, established a financial mechanism that will make it possible to give up dependence on the devalued US dollar. Congratulations! 

Similar importance has the fact that this forum has established the fundamental principles that will govern the Peoples’ Trade Agreement (TCP) to develop regional trade based on complementary aid, solidarity and cooperation “to live well”.

The document, an initiative of the summit’s host, Bolivian President Evo Morales, is even more significant when compared to the negative effects the inclusion of Mexico in the North American Free Trade Agreement (NAFTA) with the United States and Canada has brought to Mexicans.

The Summit was an excellent opportunity to expose the developed countries’ responsibility in the climate debt, while participants demanded mechanisms of compensation for those countries that preserve, protect and maintain their forests … (full text).

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