The new Constitution enable Pte. Correa to remain in office until 2017.

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“Member states from the Union of South American Nations congratulate the people and government of Ecuador for the successful development of the Approval Referendum of the New Political Constitution bill”, said the release.

Unasur described Ecuador Sunday’s vote as “satisfactory” given the “full guarantees offered to the different opinion sectors of the country”. No incidents were reported during voting.

The new constitution promoted by President Rafael Correa was approved by 64% of the electorate.

The overwhelming support even in Guayaquil, Ecuador’s main port and the political seat of the business community, forced a quick recognition from the opposition and a call for dialogue.

The new constitution gives the Ecuadorian government greater preponderance over the economy and the country’s resources, plus virtually eliminates the Central bank autonomy and allows for re-election.

Mr. Correa is expected to call a snap presidential election in the first quarter of 2009 which would theoretically enable him to remain in office until 2017.

Ecuador is rich in oil, the country’s main export and is a member of OPEC.

Unasur was born last May in Brasilia and is made up of Argentina, Bolivia, Brasil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Surinam, Uruguay and Venezuela. Chile holds the pro tempore chair.