Tuesday, May 02, 2006

Bolivia nationalises natural gas industry

In a move, widely expected after Eva Morales became the President of Bolivia, the country has announced that the foreign gas companies operating in Bolivia must re-negotiate their deals with the country within 6 months or else will be thrown out of the country, and the country will take over all the production facilities.

Only last week, Venezuela, Cuba and Bolivia have worked out a deal for economic cooperation as against US backed free-trade zone. They have called it People's Trade Agreement!

A left wing driven South America is looking to come on its own, and it is not all that bad. India must look towards engaging these countries for a fruitful economic cooperation.

2 comments:

  1. There's an interesting article in today's Hindu related to this post.

    http://www.thehindu.com/2005/01/13/stories/2005011303611000.htm

    Saumya

    ReplyDelete
  2. OOps! I think I posted a wrong link. Here's the correct one.

    http://www.hindu.com/2006/05/17/stories/2006051707821100.htm

    Saumya

    ReplyDelete