The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, proposed the new Venezuelan cryptocurrency, the Petro, as an option for trade between the bloc’s member countries during his opening speech at the 15th Summit of the Bolivarian Alliance for the Peoples of Our Americas - Peoples' Trade Treaty (ALBA-TCP), held in Miraflores Palace in Caracas.
"Venezuela puts that cryptocurrency on the table to increase trade for economic development", he said. Soon, there will be a meeting to “look into an agenda to boost economic and financial activities in our countries and bring about a new stage for ALBA".
Heads of State and ministers of economy would participate in this meeting, where the Alliance’s achievements would be presented as well as the adoption of the virtual currency as a form of financing and payment.
Venezuela has provided data to the bloc’s member countries on the Venezuelan cryptocurrency so that is considered as an economic option to facilitate trade between member nations, said President Maduro.
He said that we must work together to raise Petrocaribe, an alliance created in June 2005 by Commander Hugo Chávez, to its highest level in order to "advance in the construction of an economic, commercial, financial and monetary zone in the region", he said.
President Maduro’s suggestions reaffirm the integrationist project and thinking of the leader of the Bolivarian Revolution, Hugo Chávez, as they strengthen the economies of Latin America and the Caribbean.
ALBA-TCP countries with Venezuela
As one of the items on the agenda of the 15th ALBA-TCP Summit, member countries discussed the current national and international situation of Venezuela to condemn the meddling measures against the Bolivarian Government that threaten peace in the region.
The presidents of Cuba, Bolivia, Nicaragua, the Prime Minister of Dominica, and the ministers of Ecuador and Saint Vincent and the Grenadines expressed their support for Venezuela and spoke about the importance of deepening respect for the sovereignty of internal affairs of countries and their self-determination.
As a tribute to the fifth anniversary of Chavez’s death, the Heads of State and representatives of their governments said that we must maintain unity to ensure his mission and legacy. "The countries that are gathered here share the principles of integration for the liberation of our peoples. The countries that are gathered here seek equality for humanity”, said the President of Bolivia, Evo Morales.