CARACAS, May 5 (Xinhua) -- The 7th Summit of the Petrocaribe oil alliance opened here on Sunday, with the aim of creating a special economic zone for member states.
The meeting has attracted leaders, officials and representatives from the 18 Petrocaribe member states and Brazil, including Haitian President Michel Martelly, Honduran President Porfirio Lobo, and President Danilo Medina of the Dominican Republic.
In his opening address, Venezuelan President Nicolas Maduro said that the time is ripe for establishing a special economic zone in the region, as proposed by Venezuela.
Regional alliances such as Petrocaribe are growing stronger despite the attempts by the "international right wing" to sow division among Latin American countries, said Maduro.
The president added that he expects the summit to culminate with the establishment of the Petrocaribe integral economic zone, which will help promote common development, regional trade, as well as energy and financial stability for Latin America.
Launched in 2005 by Venezuela's late president Hugo Chavez, Petrocaribe now consists of Antigua and Barbuda, the Bahamas, Belize, Cuba, Dominica, Granada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, the Dominican Republic, Saint Kitts and Nevis, Saint Lucia, Saint Vicent and the Grenadines, Suriname and Venezuela, which supplies the other 17 members with oil at preferential rates.
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