12-18-07, 9:15 am

LA PAZ, December 16.— Presidents Evo Morales (Bolivia), Michelle Bachelet (Chile) and Luiz Inacio Lula da Silva (Brazil) agreed Sunday in La Paz to build, starting mid-2009, a 4,700 kilometer corridor uniting the Atlantic and Pacific Oceans to strengthen regional integration and development.

AFP reported that Chile committed to an investment of US $36 million to widen and improve the road linking the port of Iquique with Bolivia, and another 56 million to improve and pave other stretches in its territory.

Brazil will invest US $162 million to condition two feeder roads that are already paved and join the Brazilian port of Santos with the Bolivian town of Corumba.

Bolivian presidential spokesperson Alex Contreras made the announcement and said his country will invest US $415 million towards the project.

The highway corridor will join Santos on the Atlantic with the Chilean ports of Arica and Iquique on the Pacific, passing through Bolivia.

The project is considered important for all three nations. Brazil will see its products transported to Pacific ports in less time; Bolivia will benefit with the road infrastructure on which it will transport 70 percent of its exports and Chile will gain an outlet to the Atlantic.

The agreement to make the long Atlantic-Pacific highway operative was signed in a memorandum of understanding called the Declaration of La Paz.

The meeting of the three leaders also served to boost other projects involving physical infrastructure which could expand to train, road and tourism corridors.

From Diario Granma