ALBA meeting proposes a common economic area

On the second day of the 12th meeting of the Bolivarian Alliance for the Peoples of Our America (ALBA) in Guayaquil, the leaders proposed Mercosur to create a “powerful economic zone” as an alternative to free trade.

“We will establish ourselves in a common economic area, shared development, complementary, solidarity, respecting asymmetries beyond simple trade,” said the president of Venezuela, Nicolas Maduro.

The alternative position looking over the newly created Pacific Alliance, which seeks to free trade and comprises Chile, Colombia, Peru and Mexico.

“We long to Colombia, Peru, Chile, Mexico, but two opposing worldviews: neoliberalism, free trade, and those who believe in socialism, in guaranteeing rights, free zones but not for free trade but free from hunger, free from poverty, “said the president of Ecuador, Rafael Correa.

Maduro said the new common economic zone would also include the Caribbean Community (Caricom).

Presidents of Venezuela, Nicolas Maduro, of Bolivia, Evo Morales, of Ecuador, Rafael Correa, and of Nicaragua, Daniel Ortega, during the 12th meeting of the ALBA in Guayaquil.