Former president Rodrigo Borja has proposed that Latin American countries that do not produce petroleum should seek joint alternatives in response to the rising price of crude oil in the international market.

Borja, the future secretary of the United Nations of South America (Unasur), acknowledged that the increasing value of oil threatens most Latin American countries and that joint strategies should be designed to curb the economic danger.

An integrated approach, as seen amongst countries in Europe and Asia, is the key to maximising the economic productivity of countries in the region, he said.

Integration amongst Latin American and Carribean countries is essential, he suggested, for weathering the challenges presented by increasing competition in the international economy.

Latin American nations should also seek alternative forms of financing to increase productivity and exports, he added.

Conversely, Borja also commended the current President, Raphael Correa, on strengthening democracy in Ecuador.

Although wary of making quick judgements of a Government which has been in power less than a year, Borja complimented Correa on his popularity with the Ecuadorean people.