Ecuador signs million-dollar helicopter agreement with Russia

The first official visit of Ecuadorian President Raphael Correa on Thursday to Moscow ended with the signing of a contract on selling Russian transport helicopters worth $22 million to Ecuador.

The leaders of two countries also signed seven other documents, including those on cooperation in the energy sphere and nuclear energy for peaceful purposes, and a Declaration on Strategic Partnership between the two countries.

The chief points covered in the meeting concerned politics, security, cooperation in the protection of the environment, economy, financial and trade partnership, and the humanitarian sphere.

The sides also approved a protocol on hydropower projects between Russian and Ecuadorian companies.

Russian President Dmitry Medvedev said that the two countries are now on the way to preparing a document on visa-free travel. He also declared Ecuador to be an important trade partner for Russia, adding that last year the scale of trading between two countries reached $1 billion.