- Created: Wednesday, 16 December 2009 13:46
- Written by Helen Yaffe
The Bolivarian Alliance for the Americas (ALBA) was initiated in 2004 with a set of trade and cooperation agreements between Cuba and Venezuela. Its immediate origins lie in the famous barter trade between the two countries which began in 2000. Cuba sent thousands of educators and medical personnel to Venezuela, which in turn sold 53,000 barrels of oil a day at below world market prices to Cuba. This was followed in 2001 by an agricultural cooperation deal. In December that year, Venezuelan President Hugo Chavez first proposed a ‘Bolivarian Alternative’, to counter the neo-liberal Free Trade Area of the Americas (FTAA), known in Spanish as ALCA. ALBA means ‘dawn’ in Spanish.