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Latin America

I am being extremely careful, but I am sure of my facts. President Chavez in Venezuela is taking some industries and services into public ownership—I understand that he is minded to take rice processing into public ownership—because he believes that his Government are being held hostage by the administration of those companies and the denial of food supplies. Some of us witnessed the same process against the Popular Unity Government in Chile in the 1970s. Governments have the right to do that. We had discussions with Bolivia about its nationalisation programme, and about its wish to ensure, by agreement, open negotiation and public contract, exploitation and exploration of mineral resources. There is absolutely nothing wrong with that. Any country can do that if it wishes, and we must respect the sovereignty of any nation that wishes to take its own path to economic development. These are exciting times in Latin America, and poverty can be conquered. For the first time, many people can see a pathway out of poverty. I hope that we will respect and support that process, and the cultural liberation that is taking place throughout Latin America, with an even-handed approach that ensures decent, fair and reasonable trade, and that we support the independence of every country in bringing that about. Opportunities exist for British companies in railway development, construction, high technology, machinery and tools, and so on. There are huge development programmes in Mexico and elsewhere in which we could and perhaps should be involved. There is nothing wrong with that, because that is reasonable and fair trade, but above all we must respect the integrity of the nations concerned, and their choice of pathway out of poverty.