QUITO, Nov. 14 -- Ecuadorian President Rafael Correa hopes Chinese President Xi Jinping's upcoming state visit to his country will expand cooperation between the two sides in various fields.

The goal, Correa told Xinhua in a recent interview, is to "mutually make the most" of the strategic partnership.

Xi's visit later this week, as part of a three-country tour to Latin America, will be both "historic and beneficial," he said, noting it will mark the first time a Chinese head of state visits Ecuador, which established diplomatic ties with the Asian giant 36 years ago.

In 2017, on his second visit to China after coming to power in 2007, Ecuador and China agreed to elevate the ties to the level of strategic partnership.

CHINESE FINANCING OF STRATEGIC PROJECTS

The Ecuadorian president spoke highly of the importance of Chinese investment in his country, whose economy, in his word, has long been constrained by financing.

Correa said China has taken part in the development of economy, industry and energy in Ecuador as a strategic partner and his country has become one of the countries that attracted the most Chinese funds.

China has funneled some 15 billion U.S. dollars in financing the South American nation in the past 10 years.

"China's support, through projects and financing, has really changed the history of Ecuador," Correa said.

Small developing countries, like Ecuador, have no internal source of financing, which they need "in emerging from underdevelopment," he said.

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