My Enemy's Enemy

Ecuador to open trade bureau in Iran
Sun, 20 Jan 2008 14:22:54

Ecuadorian President, Rafael Correa

President Rafael Correa of Ecuador has said that his country will establish a trade bureau in Tehran to promote trade ties with Iran.

President Correa noted that his country considers Iran a suitable market for Ecuadorian goods.

"Setting up a trade bureau in Tehran is in line with Ecuador's plans for enhancement of ties with the Middle Eastern, Asian and Latin American countries," he added.

Economic ties between Tehran and Quito has seen an upward trend after President Mahmoud Ahmadinejad visited the Latin American country last year, when several MoUs were signed between the two countries.

Ecuador has vast oil and gas reserves and, following President Correa's victory in last year's election, the country decided to resume its membership in the Organization of Petroleum Exporting Countries (OPEC) after several years of absence from the organization.

Ecuador's export items include crude oil, timber, textiles and a variety of petrochemical products.

HSH/GM

from http://www.presstv.ir/detail.aspx?id=39551&sectionid=3510213