CARACAS, Venezuela.- Despite the U.S. government’s economic aggressions, mainly against the oil industry, Venezuela is defending the proposal to relaunch the Petrocaribe energy cooperation agreement.

Driven by the Venezuelan Executive within the Bolivarian Alliance for the Peoples of our America – Trade Treaty of the Peoples arose under the principle of solidarity aimed at eliminating asymmetries and inequalities.

Petrocaribe represented an integration mechanism aimed at boosting regional socio-economic development by providing energy resources to Caribbean nations through concessional financing.

Speaking at the 17th ALBA-TCP Summit, President Nicolas Maduro proposed the relaunch of Petrocaribe, in conjunction with the social programs developed as part of the integrationist project.