CARACAS, April 17 (Xinhua) -- The 7th Presidential Summit of the Bolivarian Alternative for the Americas (ALBA) finished on Friday with the rejection to the Summit of the Americas declaration, which will be held in Trinidad and Tobago.

    Venezuelan President Hugo Chavez read a 15-points document blaming capitalism for creating the current world economic problem as well as the imperialist policy of U.S. in Latin America.

    Before the Summit of the Americas, scheduled for April 17 and 19, presidents from Nicaragua, Cuba, Bolivia, Honduras, Venezuela and Dominican Republic established a common position towards it, in the capital of Sucre state, 408 kilometers to Caracas.

    Chavez also read an ALBA's resolution to support Bolivian President Evo Morales due to the uncovered plot to kill him.

    The ALBA also approved 77.3 million U.S. dollars for agro-production agreements in Nicaragua and Haiti.

    In the closure ceremony Cuban poet Roberto Fernandez Retamar received the ALBA 2009 award for his work "Toda la vida (All the life)" and Bolivian Jorge Sangines received the film award ALBA 2009.

    ALBA is a regional organization founded in 2004 under the initiative of Venezuela and Cuba to counter the U.S.-led Free Trade Area of the Americas.

    Meanwhile, U.S. administration dismissed threat to veto the declaration of the Fifth Summit of the Americas, saying Chavez's decision would be irresponsible and misplaced.

    "The declaration of the summit is a document, a fairly lengthy document that's been negotiated for the last nine months by all 34countries, including Venezuela," Jeffrey Davidow, adviser to Barack Obama on the summit, said in Mexico City where he accompanied the U.S president for a one-day visit on Thursday.