US, Caribbean Relations 2015: Vice President Joe Biden to Host First-Ever Caribbean Energy Security
The White House announced Vice president Joe Biden will preside over the first-ever Caribbean Energy Security Summit later this month from Washington, D.C. (Photo : Getty)
The White House announced the vice president will preside over the first ever Caribbean Energy Security Summit later this month from Washington, D.C.
The Caribbean Energy Security Summit, set for Jan. 26, will have Vice President Joe Biden leaders from the Caribbean but also representatives from the international community in effort "to promote a cleaner and more sustainable energy future in the Caribbean through improved energy governance, greater access to finance, and donor coordination."
According to the White House, Biden is expected to deliver remarks with the inclusion of an energy security roundtable featuring heads of government. Meetings will take place with government officials and representatives from the private sector and multilateral institutions. Biden's office said representatives, ranging from prime ministers or cabinet ministers, from the Dominican Republic, Grenada, Jamaica, and Trinidad and Tobago are expected to attend.
The Caribbean Energy Security Summit is reportedly a "key component" to Biden's Caribbean Energy Security Initiative, which he announced in June 2014. Bloomberg reported the Caribbean Energy Security Summit will attempt to diversify energy sources, particularly for island countries who often rely on Venezuela's diesel fuel.
In a Fact Sheet published on June 19, last year, Biden's office identified energy security as a "major challenge" for the Caribbean.
"The region is largely dependent on relatively high-cost imported fuel and electricity. Small isolated economies and unattractive investment policies discourage investment necessary to build sustainable energy systems," noted the "Promoting Energy Security in the Caribbean" report. "The high cost of energy diverts resources away from economic development, reduces competitiveness, and renders the energy sectors of Caribbean nations vulnerable to supply shocks."
Biden claimed energy support for the Caribbean is possible, recognizing a "one-size-fits-all" solution for all countries in the region.
The Caribbean Energy Security Summit comes as the third summit of the Community of Latin American and Caribbean States (CELAC) is set to occur on Jan. 28 and Jan. 29 in Costa Rica, with a preceding meeting with foreign ministers on Jan. 27. The CELAC summit includes heads of state and government officials from 33 countries from the region, which notably does not include Canada or the U.S.
As Latin Post reported, CELAC members recently traveled to Beijing for a two-day summit with Chinese officials last week. Chinese President Xi Jinping met with Latin American leaders including Costa Rica President Luis Guillermo Solis, Venezuela President Nicolas Maduro, Ecuador President Rafael Correa and others, and pledged to support the region with billions of dollars in investments. The Chinese president has set aside $250 billion to help Latin America's trade for the next 10 years, but the financial figure could increase to $500 billion based on two-way trade between the region and China.
While the CELEC-China summit occurred, President Barack Obama and Biden met with Mexican officials host their High-Level Economic Dialogue (HLED) meeting, including Mexico President Enrique Peña Nieto to discuss economic and trade opportunities.
The upcoming Caribbean Energy Security Summit hosted by the White House and the U.S. State Department with collaboration with the Atlantic Council and the Council of the Americas.
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