Chilean President Michelle Bachelet says her country is rejoining the Andean Community trade bloc after a 30-year absence.
President Bachelet said during an official visit to Ecuador Tuesday that Chile will rejoin as an associate member at first.
Chile quit the trade bloc in 1976 to protest difference with other members on trade policy. The bloc currently consists of Bolivia, Colombia, Ecuador, and Peru.
While in Quito Tuesday, Ms. Bachelet and Ecuadorean President Alfredo Palacio signed a joint statement calling for greater bilateral relations.
The presidents watched as officials from their state-owned oil companies signed an agreement on increased investment in the Ecuadorean Amazon region.
Some information for this report was provided by AP and Reuters.