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Quito - 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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