Appendix 5. Energy Cooperation Agreement PetroCaribe Signed at Puerto La Cruz, Venezuela, 29 June 2005

• Author: UWI-CARICOM Project
• Pages: 199-205

199

Appendices

Appendix 5 - ENERGY COOPERATION AGREEMENT PETROCARIBE

SIGNED AT PUERTO LA CRUZ, VENEZUELA, 29 JUNE 2005

We, the Heads of State and / or Government, gathered in the City of

Puerto la Cruz, Venezuela, within the framework of the Energy Meeting for

the creation of PETROCARIBE:

1. WELCOME the initiative of the President of the Bolivarian Republic

of Venezuela for the creation of PETROCARIBE, the fundamental

objective of which is to contribute to the energy security, the social

and economic development and the integration of the Countries of

the Caribbean through the sovereign use of energy resources based

entirely on the principles for integration referred to as the Bolivarian

Alternative for the Americas (ALBA);

2. RATIFY the commitments assumed at the First Meeting of Energy

Ministers of the Caribbean held in Caracas, Venezuela, on 10 July

2004 and at the Second PETROCARIBE Meeting of Energy Ministers

held in Montego Bay, Jamaica, from 26 to 27 August 2004;

3. AGREE that, for the Latin American and the Caribbean region,

integration is an essential condition for striving to achieve

development in the midst of the increasing creation of large regional

blocks occupying major positions in the world economy;

4. CONCLUDE that only integration based on cooperation, solidarity

and the common will to advance to higher levels of development

can help fulfil the needs and aspirations of the peoples of Latin America

and the Caribbean while allowing them to preserve their

independence, sovereignty and identity;

5. REITERATE that the objective of PETROCARIBE is to help in the

transformation of Latin American and Caribbean societies by making

them fairer, more educated, participatory and harmonious nations.

For this reason, PETROCARIBE has been conceived as an integral

process intended to promote the eradication of social inequalities

and to foster improved living standards and more effective

participation by nations in their efforts to shape their own destiny;

6. RECOGNISE the need to adopt measures, within the context of

PETROCARIBE, based on a special and differentiated treatment for

the Latin American and the Caribbean countries exhibiting less

relative development, and on complementarity and cooperation

between the countries of the region;