Source: ABN
Caracas, February 03rd 2010.- Venezuela and Cuba concreted this Wednesday the first commercial operation with the Unitary System of Regional Compensatory Payments (Sucre), which corresponds to the payment of 360 metric tons of rice out of a total of 8,000 that will place Venezuelan in the Cuban market.
Said inaugural transaction, for 108,000 Sucres, was executed between the exporter Venezuelan company Socialist Rice Joint Venture of the ALBA S.A., and the Cuban importer Alimport, as informed through a press release by the Venezuelan Central Bank (BCV).
The operation was carried out using the platform developed for such purpose by the Bank of the Alba. The Venezuelan Planning and Finances Minister Jorge Giordani; the President of the BCV Nelson Merentes; the Vice Minister of Endogenous Development Gustavo Hernandez; and the Venezuelan representative for the Regional Compensatory Council Jesus Faria, were present at the moment of the transaction.
In November 2008, during the Third Extraordinary Summit of Heads of State and Government of the Bolivarian Alliance for the Peoples of Our America (Alba), the members of the bloc agreed to build a monetary zone establishing a Common Account Unit and a Chamber of Compensatory Payments.
Since that moment, the presidential commissioners and technical teams of Ecuador, Bolivia, Honduras, Nicaragua, Cuba and Venezuela worked together to create the System, which would allow to replace the use of dollars for the commercial exchange between these countries.
In this regard, the President of the BCV Nelson Merentes assured that this transaction represents a new step towards the unstoppable integration of Latin American countries, led by the countries of the Alba.
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Venezuela and Cuba concrete first commercial operation with the Sucre