Panama will form part of Petrocaribe
PANAMA. Panama is willing to comply with the requirements that will allow it to become part of Petrocaribe and President Martin Torrijo...
PANAMA. Panama is willing to comply with the requirements that will allow it to become part of Petrocaribe and President Martin Torrijos asked his Venezuelan counterpart, Hugo Chavez to consider his petition.
Petrocaribe S. A. is a Caribbean oil alliance with Venezuela to purchase oil on conditions of preferential payment. The deal allows Caribbean nations to purchase up to 185,000 barrels of oil per day on these terms. In addition it allows nations to pay part of the cost with other products provided to Venezuela, such as bananas, rice, and sugar.
In a joint declaration Torrijos and Chavez said that great possibilities exist for the negotiations to progress and for the two countries to find integration mechanisms.
Torrijos also expressed his interest in subscribing to an agreement to formalize flights frequency between the two countries.
The Panamanian president visited Venezuela on Tuesday to talk about future commercial exchanges between the two nations.