Declaration of Accession of the Government of Guatemala to the
PETROCARIBE Energy Cooperation Agreement

The Government of the Republic of Guatemala values the PETROCARIBE Energy Cooperation Agreement as one of the most important cooperation initiatives launched in the world over the past decades.

Founded with a new vision fostering the search of solutions for the complementarity of our economies, based on a platform of true and sound process of economic, social and political integration underpinned by principles of solidarity, fair trade and economic complementarity, PETROCARIBE initiative has become, in only three years, a true possibility for the peoples of the Caribbean to count with the energy resources essential for development within equity and social justice.

The autonomous handling of its energy matrix, the reliable and secure supply of oil and fuel, the financing up to 50% (fifty percent) of the energy bill, all this will contribute to supplement the domestic savings of Guatemala that will finance social cohesion programs, infrastructure, energy development and other investments deemed convenient. All the above is part of the undeniable benefits contributed by PETROCARIBE to its member countries.

The Alba-Caribe Fund reflects the social dimension of this energy initiative and guarantees a set of economic resources for various health, education, food and housing programs from which hundreds of thousands of poor and low income families have benefited.

We are aware of the efforts that the Government of President Hugo Chavez is undertaking for PETROCARIBE to attain the highest levels of efficiency that will allow it to face the challenges deriving from the use of energy aimed at making progress in the execution of productive and economic integration investment programs, programs that strive for our countries entering the path of equitable development.

Regarding energy, Venezuelan cooperation in the field of fuel supply under the terms of PETROCARIBE Energy Cooperation Agreement constitutes a concrete expression of the solidarity of the Government of President Hugo Chavez, which makes it possible to direct resources towards investment improving the peoples’ quality of life.

Convinced that integration based on the principles of the Energy Cooperation Agreement constitutes a viable alternative for our peoples to attain social justice development and preserve at the same time their independence, sovereignty and identity, I do hereby declare, on behalf of the Republic of Guatemala, our political will to join PETROCARIBE Energy Cooperation Agreement.

In the city of Maracaibo, Bolivarian Republic of Venezuela, on this 13th day of the month of July in the year two thousand and eight.

ALVARO COLOM
President of the
Republic of Guatemala