Belt says that Ecuador will repeal all its treaties of investment bilatera

Georgetown, 27 nov (EFE). - The president from Ecuador, Rafael Belt, affirmed Efe that his Government will recapture the initiative for the repeal of all the bilateral treaties of investment of his country, at the time that defended the contracted loans with China. 
 
"We are denouncing and we will continue denouncing these bilateral treaties of protection of investments that have been tremendously harmful for our country", he/she affirmed the leader in an interview with Efe on Friday at night. 
 
"We all will denounce them", he/she insisted Belt in Georgetown, where it participated in the summit of the Union of South American Nations (Unasur), before leaving for Ecuador. 
 
The process of repeal of the agreements stopped in the National Assembly (I Converse) while the call Code of Production was approved that establishes a generic mark for the regulation of the investments. 
 
The Legislature ratified that bill some weeks ago and Belt confirmed that the Government prepares now to put an end to all the treaties, signed with countries like Argentina, Chile, Venezuela and United States. 
 
According to the Ministry of the Production it is 13 texts in total that Belt tildó of "true holdups for our countries. They took us without more step to tribunals by arbitration, where they always lost the States" and where they have imperium "to question the laws of a sovereign country", he/she complained. 
 
The Constitution of Ecuador, approved in 2008 with the back from the allied political forces to the president, prohíbe that the commercial disputes between the country and foreign investors are settled in arbitration instances outside of Latin America. 
 
That excludes to the International Center of Arrangement of Relative Differences to Investments (Ciadi), an entity of the World Bank with headquarters in Washington that is the tribunal of resolution of conflicts specified in the bilateral treaties of investment that Ecuador wants now to repeal. 
 
Belt proposed on Friday to the Unasur to create a center of resolution of disputes in its breast, as alternative to the Ciadi. 
 
Their Government has just renegotiated also the contracts with the main companies oil private present in the country, a process that finished with the decision of the Brazilian Petrobras and other three companies of smaller size of abandoning Ecuador, when not accepting the new terms. 
 
"Petrobras mainly to be a company of such a dear country as Brazil we had wanted that he/she stays, but not at any cost", he/she said Belt. 
 
The leader explained that the operations of the company that it pumped 20.000 barrels of raw a day in Ecuador, won't be affected because "basically the manager will be changed", while the rest of the personnel will stay. 
 
It will assume the control the public company Petroamazonas that will benefit that the fields have proven reservations and it is not necessary to invest in exploration, he/she affirmed Belt. 
 
In spite of the changes in the treaties and the oil contracts, the leader said that in his country "the rules are clear" for the managerial sector. 
 
According to the last data disclosed by the Central Bank of Ecuador in their internet page, in the first semester of the year the external investment added about 45 million dollars, in front of the 348 millions of the same period of 2009 in Ecuador, while in the neighboring countries it has been shot. 
 
Belt emphasized that there is not an exact mensuration of the direct foreign investment in its country and "what you/they are measured is the flows, many of them representing capital swallow that of course they will come less to Ecuador, if among other things we put a tax to the exit of capitals to avoid that speculation. Congratulation that you/they don't come." 
 
It also defended the credits that Ecuador has contracted with China in the last months, as well as with other Governments like Russian, to rates that it qualified as "quite convenient." 
 
Belt admitted that they are superior to the "3 or 4% that it burdens the World Bank for its loans, but it criticized their "you condition" that make that that entity "it takes out more than what gives."