One of the main issues analyzed during a meeting of the people responsible for the ‘energy area’ in the Countries of Latin America and Caribbean, was the construction of an institution in order to carry out proposals made within energy security, stated the Venezuelan Energy and Oil minister Rafael Ramirez.
By Martin Hart-Landsberg - Monthly Review, Dec 13th 2010
Existing international economic institutions and relations operate in ways detrimental to third world development. That is why eight Latin American and Caribbean countries—led by Venezuela, Cuba, and Bolivia—are working to build the Bolivarian Alliance for the Americas (ALBA), a regional initiative designed to promote new, nonmarket-shaped structures and patterns of economic cooperation.
Venezuelan president Hugo Chávez arrived in Teheran, Iran, on Wednesday
night to deepen bilateral cooperation between the two countries,
inaugurate a joint bank, and discuss the creation of bi-national mining
companies.
