Head of the Petrocaribe Development Fund, Dr. Wesley Hughes, says all’s well for now with the oil agreement, despite recent changes in the Venezuelan parliament.
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This comes one week after the ruling United Socialist Party of Venezuela lost control of the Venezuelan National Assembly.
That party had founded the Petrocaribe arrangement under late President Hugo Chavez in 2005.
The Venezuelan opposition which now controls the parliament has long criticized the arrangement as lacking in any true benefit to their country.
However Dr. Hughes says Jamaicans need to move away from the skepticism and take advantage of the benefits.
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However, he says the suspension of the Petrocaribe arrangement would be detrimental to Jamaica with little impact on Venezuela itself.
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Dr. Wesley Hughes at the Rotary Club of Downtown Kingston, held at the Four Seasons Hotel in Kingston.
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