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Announcement on PetroCaribe debt repayment deal cancelled
2013-09-11 17:44:17 | (0 Comments)
Richard Browne, Gleaner Writer
Phillip Paulwell – File
The government has put off announcing a deal for Jamaica to export clinker to Venezuela as part of debt payments under the PetroCaribe Agreement.
Clinker is an intermediate stage of cement production, which accounts for about 95 per cent of the material used for ordinary Portland Cement.
Mining Minister, Phillip Paulwell, was expected to use a press conference today to announce the the deal that would see the Caribbean Cement Company Limited supplying clinker to a Venezuelan company.
However, a brief statement from the Mining Ministry today said the press conference had been postponed until further notice.
Late yesterday, the cement company had also informed that the event would be postponed due to unforeseen circumstances.
Under the Trade Compensation Mechanism of the PetroCaribe energy cooperation agreement, Jamaica is allowed to settle a portion of its oil debt to Venezuela through the export of goods and/or services.
Jamaica has also been contemplating having its teachers train Venezuelans in English language as part of its repayment options.
The options formed part of discussions at the 11th meeting of the PetroCaribe Council of Ministers and the second meeting of the PetroCaribe Economic Zone in Haiti held over the weekend.
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Source: The Gleaner/Power 106 News
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