In a sign of tightening economic cooperation, Venezuelan President Hugo Chávez and his Ecuadorian counterpart Rafael Correa signed 12 bilateral agreements yesterday in the Ecuadorian resort town of Salinas. Some of the agreements focused on creating joint ventures for housing and the production and sale of cocoa. Others covered the sectors of tourism, health, social security, and technology.
Furthermore, despite calls among Gulf Arab states of the Organization of the Petroleum Exporting Countries (OPEC) to escalate daily outputs by its members, both presidents rejected such demands while in Salinas. Correa claimed that OPEC quotas should not increase given current global demand levels, noting that “production will have to increase when demand grows.” Ecuador and Venezuela are OPEC member nations.
The two leaders also celebrated the victory earlier this week of Peruvian President-elect Ollanta Humala. They noted that Humala’s victory and yesterday’s bilateral agreements are further signs of regional integration. Chávez added that this integration is intended to turn Latin America into “a zone of peace and democracy.”