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Energy Minister to hold PetroCaribe talks in Haiti

Published:Saturday | September 7, 2013 | 9:13 AM

Energy Minister, Phillip Paulwell is headed to Port-au-Prince, Haiti today to hold talks in relation to the PetroCaribe Agreement.



He will attend the Eleventh Meeting of the Petrocaribe Council of Ministers and the Second Meeting of the Petrocaribe Economic Zone (PEZ).



Energy Ministers from PetroCaribe countries are expected to discuss various energy issues and the terms of reference of the PEZ.



They are also expected to deliberate on the cooperation agenda to be adopted in the coming years.



Paulwell will be accompanied by a delegation comprising Chief Executive Officer of the PetroCaribe Development Fund, Dr Wesley Hughes, Jamaica’s ambassador to Venezuela Sharon Webber and Chairman of the Petroleum Corporation of Jamaica Group, Christopher Cargill.



Jamaica was one of the original signatories to the 2005 PetroCaribe Initiative.



Under the agreement, member states are allowed a deferred financing mechanism, through which a percentage of the cost for petroleum products purchased from Venezuela is made available to their Governments as a long-term concessionary loan.



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