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Ecuador and Indonesia Agree to Boost Bilateral Trade

Article Summary:

Ecuador and Indonesia have jointly agreed to promote bilateral trade between the two nations. Indonesia also pledged to make special investments into agriculture, petroleum, mining, and telecommunications of Ecuador.

Photo Credit: El Tiempo

Original Article Text From El Tiempo via Google Translate :

Ecuador and Indonesia Will Boost Trade

In a joint press conference at the Carondelet Palace, Correa said Yudhoyono’s visit will give “a decisive impulse to exploit the full potential of relations between Indonesia and Ecuador.”

The Ecuadorian president cited the Asian country’s experience in oil, mining and telecommunications, and tourism potential, noting that his country could sell flowers and coffee.

Yudhoyono, culminating in a tour of Latin America Quito, agreed that both countries should raise the whole trade. To that end, the two nations signed a Memorandum of Understanding on Trade and Investment Cooperation.

“Our bilateral relations are going well, but we still have many areas for collaboration,” said the Indonesian president.

Correa said that trade between two countries totaled $ 40 million, of which 36 million are exports from Indonesia to Ecuador, mainly petroleum pipelines, and other exports from Ecuador, which did not elaborate.

Yudhoyono arrived Friday in Quito, from the UN Conference on Sustainable Development, Rio +20, and today took part in the ceremony to lay a wreath at the Monument of the Heroes of Independence, before moving to the Presidential Palace.

The Indonesian president said that the Asia-Pacific region is “the cornerstone of the global economy” and in this regard highlighted the value of cooperation between Asia and Latin America, which will benefit not only these two regions, but the entire planet, in his opinion.

Correa expressed the desire to diversify markets and international relations. “It’s time not to look to the north, it’s time to look at our side,” he said.

At the meeting, Yudhoyono promised to give a contribution to the Yasuni-ITT ecological project, but did not specify the value.

Government objects to reduction of penalty
Quito. President Rafael Correa spoke against the reduction of penalty to the 25 members of the band Mother’s Fight, who were captured in March 2012 with dozens of weapons, hundreds of television and stolen vehicles, and he pointed out in his report of work that was taped Friday and released yesterday.

The band members were sentenced to five years in prison for the Seventh Criminal Court but a month later the judges apply a reduction of penalty and are sentenced to three years of course good behavior, despite the evidence presented.

The Minister Jose Serrano said: “This is unacceptable. The Prosecutor of the case will appeal to the reduction of penalty. ” The president also expressed his disagreement with the decision of the judges who have decided to lower the penalty because they presented certificates of honor.

“If someone has given them certificates of honor to these criminals, you should prosecute accomplices,” said Correa.

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From El Tiempo

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