- October - Castro and Venezuelan President Hugo Chávez sign the
Integral Cooperation Accord, which begins the exchange of subsidized Venezuelan
oil for Cuban goods and services.
exports of goods and services to Venezuela total $34 million
August - Castro
celebrates his 75th birthday with Chávez. Chávez's present is a
revision to the 2000 Accord, stating that Venezuela will now compensate Cuba in
hard currency for all Cuban products and services that were originally intended
as in kind payment for Venezuelan oil.
- Cuban exports to Venezuela total more than $150 million.
- December - Chávez and Castro form ALBA, the Bolivarian
Alternative for the Americas, as an alternative to the FTAA (Free Trade Area
of the Americas) proposed by the U.S.
- April - As part of ALBA, Chávez and Castro sign 49 joint agreements
in commerce, energy and oil, finances, agriculture, communications, banking, health
care and education. Some of the agreements include:
state-owned Venezuelan oil company, PDVSA opened a new headquarters in
will continue sending low-cost oil to Cuba - the supply has risen to 90,000 barrels
will expand medical programs in Venezuela by sending 20,000 of its own doctors
and training 60,000 new doctors and technicians in Cuba. In exchange, Venezuela
will reduce Cubas oil payments by $1 billion each year
products, including food, footwear, clothes and furniture will enter Cuba duty
free and will be offered to the Cuban population at reasonable prices
President Fidel Castro and Venezuelan President Hugo Chávez [Associated