President Hipólito Mejía traveled to Venezuela today for the signing of the Caracas Pact with heads of state of Central America and the Caribbean and President Hugo Chavez of Venezuela. The pact is good business for Venezuela because it ensures customers in the region. For the beneficiary nations, it provides preferential payment plan for 25% of the purchase at a 2% interest rate and 15 year payment terms. The Venezuelan petroleum sales are at world market prices. The agreement also provides for Dominican purchases of up to 20,000 more barrels a day, in addition to the present 24,800 barrels per day. The agreement nevertheless conditions sales only to government entities at a time when the trend is to divest these institutions. President Mejía will meet with his colleagues in Caracas and participate in a formal dinner-reception, as well as a luncheon with Venezuelan businessmenon Thursday. That same day, he will leave for Aruba for talks with government and businessmen, returning to Santo Domingo Friday pm. President Mejía will be traveling with Technical Secretary of the Presidency Rafael Calderón; Minister of Industry and Commerce Angel Lockward, CDE administrator César Sánchez and Luis Decamps. Also, with the chief of protocol Carlos Guzmán, chief of information and press, Luis González Fabra and head of the presidential military corps General Carlos Díaz Morfa. This is Mejía’s fifth trip abroad in his first 60 days in office. He has been to New York City, Costa Rica, Nicaragua, Guatemala and Jamaica since taking office.
