By Xinhua,
Quito : Ecuador Monday took over the rotating presidency of the Union of South American Nations (UNASUR) from Chile.
At a ceremony in San Agustin Convent here to mark the occasion, Ecuador’s President Rafael Correa said UNASUR is “a political option”, has many challenges like creation of a common reserve fund, a common monetary system and new policies to restructure the external debt of member states.
He also proposed to create an observation commission under the UNASUR to monitor the electoral process in the region. He said the region “does not need foreign observers” like the European Union for that purpose.
The heads of states from the 12-member block attended the event.
Correa called on the UNASUR to demand for “unconditional” reinstatement of ousted Honduran President Manuel Zelaya.
On the occasion, Chilean President Michelle Bachelet lauded the achievements of UNASUR during her presidency, like the creation of the South American councils of defence, health and energy.
Colombian President Alvaro Uribe who did not attend the summit and deputed his foreign vice minister for the summit.
UNASUR, set up in 2008, includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Surinam, Uruguay and Venezuela. UNASUR presidency is held by a member state for a year.