The people of Ecuador are rising up to refound their country as a pluri-national homeland for all. This inspiring movement, with Ecuador's indigenous peoples at its heart, is part of the revolution spreading across the Americas, laying the groundwork for a new, fairer, world. Ecuador Rising aims to bring news and analysis of events unfolding in Ecuador to english speakers.

Monday, May 25, 2009

Ecuador, Venezuela Reinforce Ties

Quito, May 24 (Prensa Latina) Ecuador and Venezuela have reinforced bilateral ties after signing five cooperation agreements on energy, mining, tourism, agriculture and banking, Ecuadorian President Rafael Correa confirmed.

With these agreements, Liberator Simon Bolivar's dream of working on the construction of a large homeland comes true, Correa noted last evening after attending the signature ceremony along with Venezuelan President Hugo Chavez.

In a press briefing with Chavez, Correa said that since the first oil agreement with Venezuela in 2007, Ecuador has managed to save $252 million in oil costs.

Correa announced construction works for a $10-billion oil refinery on Ecuador's Pacific coast by Petroleos de Venezuela (PDVSA) will begin in 2010.

He also said Ecuador is planning to become a full member of the Bolivarian Alternative for the Americas (ALBA), an integration initiative so far comprising Venezuela, Cuba, Bolivia, Nicaragua, Dominica and Honduras.

Ecuador has been attending ALBA meetings as an observer.

President Correa added said that the accords signed with Venezuela confirm achievements made by his government's foreign policy.

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