Barbados signing on to the Petrocaribe deal with Venezuela is expected to be one of the major discussion points during the 45th Regular Conference of Caribbean Community (CARICOM) Heads of Government being held in Trinidad and Tobago, from July 3 to 5.
Prime Minister Mia Mottley, speaking during a recent press conference at Ilaro Court, said if the deal is brokered, it would result in this country having access to oil under flexible financial terms. She said: “These are some of the things that we are going to have to be discussing next week.”
The Prime Minister stressed that Barbados continued to be adversely affected by rising oil prices due to several external factors, including the war in Ukraine.
She also disclosed that two ministerial delegations recently went to Caracas to discuss details relating to possible energy and agriculture deals with Venezuela.
Pointing out that the first Petrocaribe deal “did not work” for Barbados, Ms. Mottley said there was a new deal on the table that could benefit the country.