Topic: Aid For Trade
School: The Kew Forest School
The most important thing to know about Venezuela is that it is an oil exporting country, the fifth largest in the world, with the largest reserves of conventional oil (light and heavy crude) in the western hemisphere and the largest reserves of non-conventional oil (extra-heavy crude) in the world. The Bolivarian Republic of Venezuela believes that the Aid for Trade Program is cynical and hypocritical attempt by the United States, Europe and transnational corporations to continue the exploitation of the developed world by imposing “free trade” while preserving protectionist measures such as agricultural subsidies that benefit the developed worlds. As our President Hugo Chavez recently stated, “ Capitalism is the reign of corruption. Everything that has happened with the big corporations, the big banks, the big insurance companies, what is it? Corruption. Corruption of values, fraud against the people, theft from the citizenry.” Venezuela opposes the liberal “free market” model that supports agricultural subsidy programs for the producers of the developed countries while imposing conditions of dependency on the agricultural sectors of poor countries. Subsidized over production in the developed world leads to environmental degradation and falling process in the developing world pushing millions into poverty. The developed world will then seek to pry open the service sectors of the developing world to transnational corporations so that they can dominate and sweep away local businesses and exploit labor markets. Unfair western trade practices are an important contributing factor to this tragedy, preventing the development of agricultural industries in many states by means of tariffs and subsidies.
With the rising popularity of capitalism and the creation of the World Trade Organization (WTO), many nations entered into free trade agreements hoping to...