ALBA is a proposed alternative to the U.S sponsored Free Trade Area of the Americas (FTAA). It advocates a socially -oriented trade block and appeals to the democratic principles of justice and equality and the well being of the most dispossessed sectors of society.

Prime Ministers Baldwin Spencer of Antigua Barbuda, Roosevelt Skeritt of Dominica, Dr. Ralph Gonsalves of St.Vincent and the Grenadines and President Hugo Chavez of Venezuela signed an agreement uniting the countries and also declaring them as one last Saturday at a rally held at Campden Park.

The rally was held as part of activities planned for the official visit of President Hugo Chavez.

Expressing his sentiments, PM Spencer said it was an historic moment as it represented the re-writing of Caribbean and Latin American history. Spencer, who chairs the OECS, said it was also a significant occasion as member countries began to reposition themselves and developed new and exciting alliances, which ensured a secured future for people of the region.

Dominican Prime Minister, Roosevelt Skeritt, said the declaration was done in the name of integration and the combining of efforts to advance the cause of developing the region. "Because in order to confront the challenges in the Caribbean and Latin American space, we must work together as leaders, as people in the Caribbean, people of Latin America," he said. He told Vincentians to ignore the "propaganda" that painted President Chavez and PM Gonsalves as "dark and Dangerous people" as these men, in his opinion, were committed to fighting poverty and oppression that people of the region had endured for many centuries.

Host PM Gonsalves said the commitment that the three countries made to subscribing to the principles and specific programmes of ALBA would not in any way undermine Caricom and the OECS, but, on the other hand, strengthen the existing Caribbean integrating efforts. "Nobody can be against fraternity, solidarity, cooperation, peace and justice. Nobody could be against countries coming together to act out principles for the benefit of their citizens." He then listed a number of programmes, already in progress, that represented ALBA. These programmes include, the petro-caribe agreement, scholarships for Vincentian students to study in Venezuela and the popular Vision - Now programme.

The four initial signatories to ALBA are Cuba, Venezuela, Bolivia and Nicaragua.