Petrocaribe summit in Nicaragua ends

MANAGUA, Nicaragua (AP) — Heads of state of Petrocaribe nations have ended a summit in Nicaragua with agreements to promote a regional economic bloc to increase the flow of food and services among member nations.

Nicaraguan President Daniel Ortega said Saturday that summit participants decided to create working groups in transportation and communications, productive alliances, tourism, trade and commercial facilities to go “beyond the false concepts of free trade.”

The idea of creating a trade bloc of Petrocaribe members was brought up in May at a summit in Venezuela.

Petrocaribe is an alliance that many Caribbean states have with Venezuela to receive oil on preferential terms.

Ortega said “with these steps we are attacking extreme poverty, creating a regional brotherhood with a trade zone to confront the problems facing Latin America and the Caribbean.” provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, racial slurs or consistent name calling will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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