An Iranian delegation, led by Vice President Mohammad Reza Rahimi and including a number of cabinet ministers, met with high-level Ecuadorean ministers and officials.
Later in the afternoon, Ecuadorean President Rafael Correa and Reza Rahimi are expected to sign several agreements.
“Ecuador has decided to open its diplomatic and trade relations with all the world, and we will do it,” said Foreign Minister Ricardo Patino.
Patino added that it will be necessary to overcome domestic obstacles and international pressures.
Iran is interested in financing and building the 50-megawatt Baeza-Quijos hydroelectric plant, which could cost more than $100 million.
Patino told reporters that a private Iranian company could build the plant and the Iranian government could finance it.
On Thursday, Reza Rahimi met Cuban President Raul Castro and signed several agreements, also aimed at strengthening ties between the two countries.
-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com
