oil

Despite attempts to undermine the arrangement between Haiti and Venezuela, PetroCaribe proves to be a great source of help for the country.

Beside the help in oil through PetroCaribe, President Hugo Chavez helped Haiti in the construction of its industry, agriculture and social services. The Venezuelan president also forgave Haiti's debt, estimated to be US$295 million

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The Ministry of Agriculture has announced a three year agricultural recovery plan for strengthening the agriculture so that Haiti becomes capable to take part in the oil against food exchange program with Venezuela. The concerned minister said, use of agricultural products as currency is a good idea to pay debt for oil. However, to reach that stage, Haiti must increase its agricultural crops from present level so that after meeting the local consumption need we have enough for exchange. The ministry has already selected 16 products (such as, cocoa, coffee, peas, beans, banana, etc) to begin negotiation with Venezuela.

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June, 2013 - New agreement that will allow Haiti to pay for Venezuelan petroleum products with food produced in Haiti. Food against oil !

In short, Haiti's debt to Venezuela under the Petrocaribe agreement, would be reinvested in agriculture.

The agreement is expected to increase agricultural production in rice, peas, red beans, corn, honey and sugar and create jobs

In addition, Haiti to increase oil import quota from 14,000 barrels a day to 20,000 barrels per day

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The first Summit of Heads of States and Governments of the Community of Latin American and Caribbean States (CELAC) took place in Caracas, Venezuela.

Michel Martelly who attended, took the opportunity to meet Hugo chavez and thank the Venezuelan government for fuel shipments to Haiti via Petro-Caribe Agreement.

The Venezuelan government sent thousands of tons of food aid in the aftermath of the quake.

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