Venezuela FM Visits Ecuador
Venezuelan Foreign Minister Ali Rodriguezkicks off Wednesday an official visit to Ecuador to review bilateral relations, as well as energy and financial cooperation agreements the two countries are planning sign.

Rodriguez arrives in Quito after attending in Guayaquil the 2nd Meeting of Foreign Ministers of the South American Community of Nations, that called for South American integration.

The Foreign Ministers of Ecuador and Venezuela will discuss cooperative projects between two the nations, Ecuadorian Foreign Ministry General Director of Communication Carmen Larrea told Prensa Latina.

Rodriguez arrived in Guayaquil Monday to attend the SACN 2nd Foreign Meeting of Foreign Ministers and will start his visit to Ecuador Wednesday, taking this chance to evaluate the energy and financial cooperation plans they are considering signing.

Caracas has offered to refine Ecuadorian oil in Venezuelan installations, and the final steps are being taken to purchase bonds of the Ecuadorian debt for 300 million dollars.

Ecuadorian Minister Rafael Correa confirmed Venezuela will purchase 300 million in bonds, more than half the issue of 500 million the Ecuadorian government needs this year to cancel its debt.

According to information from the Central Bank, the Ecuadorian public debt was 32.9 percent of its Gross Domestic Product (GDP) in June 2005.

Political media commented the visit of Rodriguez could be more relevant because of Venezuelan interest in Ecuador actively participating in South American integration and the creation of a regional energy institution.