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Declaration of the Extraordinary Summit of Heads of State and Government of PETROCARIBE

Caracas, 06 March 2015

We, the Heads of State and Government, the representatives of the Member States of the PETROCARIBE Energy Agreement, having met on 06 March 2015, in Caracas, Bolivarian Republic of Venezuela, the birthplace of Simón Bolívar, the Founding Father and Liberator of the Americas, the Architect of Republics, embraced by the Caribbean in the most troubled moments of his life of restless struggle for our peoples’ freedom,

RECOGNISING the extraordinary contribution of Commander Hugo Chávez, on the occasion of the commemoration of the second anniversary of his commitment to the earth, and of Commander Fidel Castro, in the consolidation of PETROCARIBE Energy Agreement;

UPHOLDING the free and sovereign decision of the governments that are parties to PETROCARIBE with regard to the rational use of energy on behalf of their peoples’ socioeconomic development;

RATIFYING that energy security, socioeconomic development and integration based on complementarity, solidarity and common will are the fundamental objectives of PETROCARIBE;

HIGHLIGHTING the substantial results and progress made in the region, particularly the socioeconomic development of the peoples through the sovereign use of energy resources;

CONSIDERING the unsuccessful attempts to undermine the bonds of friendship and cooperation among PETROCARIBE Member States;

RATIFYING the desire to preserve this mechanism of integration and cooperation based in the will to share the region’s energy potential to spur the development and wellbeing of the peoples;
ACKNOWLEDGING that PETROCARIBE is the only sustainable scheme which combines supply of hydrocarbons, funding for development and trade through complementary compensation;

Have resolved:

1. To welcome the Extraordinary Summit of Heads of State and Government of the Member States of PETROCARIBE.

2. To reaffirm our undertaking to continue consolidating PETROCARIBE as a development drivering our nations, as evidence of the strides made in the process of regional integration on the basis of solidarity, cooperation and complementarity, without detriment to peoples’ independence and sovereignty.

3. To maintain that the Caribbean is a zone of peace, where nations foster integration and friendship, so as to ensure the highest happiness for our peoples.

4. To underscore the need to move towards the establishment of the PETROCARIBE Economic Zone, using as starting point the commercial compensation.

5. To reiterate our commitment to go ahead with the projects of air and sea links of PETROCARIBE within the framework of the PETROCARIBE Economic Zone (PEZ), so that they become the driving force of cooperation among our countries.

6. To welcome the progress made by PEZ in social and cultural areas, particularly as regards the establishment of the University Common Forum and the implementation of the “Hugo Chávez” Plan for the Eradication of Hunger and Poverty.

7. To welcome the assessment of PETROCARIBE financing scheme, in relation to the interests in arrears on the oil bill.

8. To support the enhancement of the Alba Caribe Fund by additional two hundred million US dollars, in order to leverage the social and productive development of the Caribbean countries, as well as to fund the progress in complementary energies.

9. To make headway with the development of a block at the Orinoco Oil Belt for PETROCARIBE. Therefore, it will be aimed at establishing the relevant assessment technical committees.

10. To set up a high-level committee to implement the projects at PETROCARIBE Economic Zone, within a term of sixty (60) days, along with its action plan.

11. To ratify the foundational spirit of PETROCARIBE as a mechanism of solidarity, cooperation and friendship of the peoples of our region.

Adopted in the city of Caracas, Bolivarian Republic of Venezuela, 06 March 2015

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