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New government sticking with Trinidad oil deal
Real estate news By Caribbean Broadcasting Corporation
Wednesday, 30 January 2008
The new Barbados administration says it is sticking with the country's oil arrangement with Trinidad and Tobago and is holding out little hope of taking up Venezuela's PetroCaribe offer.
Prime Minister David Thompson has also indicated that another extra-regional trade deal – the Bolivarian alternative for the Americas (ALBA) - has to undergo some analysis before his Democratic Labour Party (DLP) administration can come to any final decision on that arrangement. "There hasn't been any change. Our foreign policy is our foreign policy," he said in response to questions about his administration's stance on the PetroCaribe deal which allows Caribbean countries to purchase oil on a partial deferred payment scheme.
However, Foreign Affairs Minister Chris Sinckler added that consideration is being given to all the available options. He said his Ministry and the Energy Ministry were assessing the situation but had concluded that "the arrangement we have with Trinidad serves Barbados' needs best at this stage and there's no anticipated change in that."
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