Friday, November 04, 2005

Venezuela's Chavez Says U.S. Free Trade Proposal Is `Dead'

Nov. 4 (Bloomberg) -- Venezuelan President Hugo Chavez said the U.S.-sponsored Free Trade Area of the Americas is ``dead,'' as it only promotes capitalism and economic domination by Washington.

``We have come here to bury ALCA,'' Chavez told reporters outside his hotel in Mar del Plata, Argentina, using the Spanish acronym for the U.S. proposal. ``ALCA is dead, and I didn't come here to talk of the dead. Let the dead take care of themselves.''

Chavez, 51, said that he will seek to boost his country's trade initiative, the Bolivarian Alternative of the Americas, during the summit of 34 countries.

``Everyday, the Venezuelan proposal is gaining support,'' Chavez said. The Venezuelan president's proposal includes such initiatives as PetroCaribe and PetroSur, which both offer Venezuela's energy resources to countries in the Western Hemisphere on preferential terms.

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