Prime Minister Dean Barrow is in the Venezuelan capital Caracas today for the Second Extraordinary Meeting of ALBA/PETRO CARIBE initiative.
Mr. Barrow is joining other regional leaders for the meeting to discuss, among other things, the Petro Caribe program under which participating countries pay 50% up front for oil imported from Venezuela.
The remaining balance is paid back at concessionary rates with the savings going towards assisting the poor in the respective countries.
At the conclusion of the meeting today, Prime Minister Barrow and other regional leaders are expected to sign a joint memorandum, committing to the establishment of an economic zone involving the participating nations.
Prior to his arrival in Caracas, Prime Minister Barrow was in Panama for a Summit Meeting of Heads of State and Government of the Central American Integration System, SICA.
At the conclusion of the Venezuela meeting, Prime Minister Barrow will proceed on personal leave with his family and is expected to return to Belize on Sunday.
During the Prime Minister’s absence from the country, Deputy Prime Minister Gaspar Vega is Acting Prime Minister.
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