Commercial exchange between Alba countries and the Sucre grew 17%
Commercial exchange between members of the Bolivarian Alliance for the Americas (ALBA) increased from 11 to 17% in recent years, because of 2,135 economic transactions carried out with the Unitary System of Regional Compensation (Sucre), the executive secretary of the regional group Rodolfo Sanz said.He added that transactions only with Sucre amounted to $700 million. Also, he stood out the advanced commercial operations through Petrocaribe for its trade-related and cooperation-complementarity aspects that make a major contribution to economic growth of the region.In an interview broadcast by local television, he stated that "with regard to energy, Petrocaribe has traded oil for more than $12 billion in recent years, taking over dominance Shell had over distribution in all Caribbean countries."Regarding the participation of private industry in the ALBA, Sanz described it as of great importance in terms of providing expansion to their markets."The private sector has within the Sucre and, hence, within the ALBA a significant presence. This sector, contrary to what some claim, have had a space close to 91% in economic transactions and business operations within the Sucre," he said.The ALBA, a body made up of Bolivia, Nicaragua, the Commonwealth of Dominica, Antigua and Barbuda, Ecuador, Saint Vincent and the Grenadines and Venezuela, has also awakened the interest of countries of Central Europe and Asia.Executive secretary informed that commercial trade via Sucre, for being a mechanism replacing the dollar's dominant position, has awakened the interest of countries like Russia, Belarus and China which have considered the possibility of setting up an exchange counterbalanced in their national currencies.Sanz also said the twelfth ALBA summit will be held during the first quarter of 2013, to discuss new strategies towards the creation of economic and productive zones in the members countries of regional bloc.