ISDS Case Map
ALBA
"The time has come for us to take on an Economic Plan that places greater emphasis on projects and transnational companies, the People’s Trade Treaty, the sucre and the Bank of Alba as the foundational pillars for a common economic area."
Venezuelan and Nicaraguan officials met in Managua on Wednesday to deepen bilateral economic ties with the goal of fostering import substitution, promoting Latin American integration, and creating an economic alternative to US-dominated free trade agreements.
On January 7, hundreds of Hondurans risked violent repression by the police and military to protest outside the national parliament building against the coup regime’s decision to withdraw the country from the Bolivarian Alliance for the Americas (ALBA).
The Honduran Congress, which is dominated by supporters of self-styled "interim president" Roberto Micheletti, voted 123 to five late on Tuesday to end co-operation with Cuba and Venezuela under the the ALBA Peoples' Trade Treaty.
Sucre is a virtual “currency” which will be used in the Alba countries: Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Honduras, Nicaragua, San Vincent and the Grenadines and Venezuela.
The creation of a regional currency among Latin American countries drew closer over the weekend as Cuba agreed to pay for a shipment of Venezuelan rice in sucres – the new currency.
The seventh Alba Summit reflects the profound contrast between imperialism that is wasting away and the healthy development of countries with more progressive governments in Latin America and the Caribbean.
ALBA countries signed an agreement to implement the common currency "Sucre" (Unified System of Compensation of Reciprocal Payments). The point of the new currency is to use it instead of the US dollar for commercial exchange between member countries.
ALBA Alimentos will emerge as a grand national project aimed at fighting the regional food crisis, said Venezuelan President Hugo Chavez at the 7th Summit of the Bolivarian Alternative for the Americas (ALBA).
The 7th Summit of the ALBA approved new steps for strengthening its model of “just and complementary trade” and ratified its struggle against “threats from the empire”
