Suriname wants to join ALBA

(de Ware Tijd) PARAMARIBO – The government of Suriname wants to join the regional trade block ALBA, the Miami Herald and the Jamaica Gleaner report in their Monday issue. The newspapers state that Suriname’s President and the Prime Minister of St. Lucia announced their intention on Sunday to join the block. President Bouterse, who enjoyed observer status at the Caracas ALBA Summit, said on his return in Suriname that possible membership will be discussed with the proper authorities. The President, however, did not object to seeking membership of ALBA. ‘We haven’t signed an agreement,’ he said, adding that he regretted Suriname’s wanting to join so late. Countries that have joined the block years ago are now reaping the fruits. Haiti, for instance, was awarded US$200 million from a savings fund to cushion the effects of the devastating earthquake in 2010. ‘These benefits are rewarding,’ the head of state says, ‘but we have to tread carefully.’ Ambassador Arnold Halfhide labeled ALBA as a ‘proper mechanism’ to improve intra-regional trade, but Suriname has to study its interests before joining. Bouterse implied that Suriname is currently trying to maximize benefits from organizations and collaboration mechanisms to which it is affiliated. In the past these opportunities were not exploited, possibly because there were other financial sources, Bouterse said referring to the Petro Caribe deal. The Venetiaan Administration had suggested a number of adjustments to the deal, but it was never effectuated. Early last month, the first shipment of Venezuelan fuel was delivered based on the new deal. At the summit the ECOALBA was introduced. This is a new economic integration system for the block. Prime Minister Ralph Gonzalves of St. Vincent and the Grenadines, however, cautioned fellow attendants to the summit arguing that the plan to create a joint economic environment might be considered a step forward, but parties should be aware of the precarious phase in which the global economy is right now. The Prime Minister urged the block to work out the legal and administrative details before forging ahead with ECOALBA, which will function as an alternative to existing economic mechanisms dominated by the US and the US dollar. ECOALBA will focus primarily on barter trade and virtual payment with the sucre. Antigua and Barbuda, Bolivia, Cuba, Ecuador, Nicaragua, St. Vincent and the Grenadines, Venezuela and Dominica are currently members of ALBA, the Bolivarian Alliance of the Americas.