ALBA

ALBA or ALBA–TCP, formally the Bolivarian Alliance for the Peoples of Our America or the Bolivarian Alliance for the Peoples of Our America – Peoples' Trade Treaty, is an intergovernmental organization based on the idea of political and economic integration of Latin American and Caribbean countries. Founded initially by Cuba and Venezuela in 2004, it is associated with socialist and social democratic governments wishing to consolidate regional economic integration based on a vision of social welfare, bartering and mutual economic aid. The ten member countries are Antigua and Barbuda, Bolivia, Cuba, Dominica, Grenada, Nicaragua, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Venezuela. Suriname was admitted to ALBA as a guest country at a February 2012 summit. History The agreement was proposed by the government of Venezuela, led by Hugo Chávez as an alternative to the Free Trade Area of the Americas (FTAA or ALCA in Spanish, an agreement proposed by the United States), which never materialized.