Jamaica signs CCCL export agreement to Venezuela

The government of Jamaica has signed an agreement for Caribbean Cement Co Ltd (CCCL) to supply cement to Corporación Socialista del Cemento under the PetroCaribe agreement, local media have reported. However, the arrangement is yet to be approve from authorities in Venezuela.

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.

While the proposed cement agreement is still not a done deal, Anthony Haynes, general manager of CCCL confirmed that there had been developments. "Our ambassador has been following it up." He said that CCCL has met with the Venezuela cement company and come to an agreement on all the terms, ie commercial, volume and logistics.  (Source: Winn FM).