On 16 November 2008, the Foreign Minister of Ecuador Maria Isabel Salvador met her counterpart, Pranab Mukherjee, and discussed co-operation in oil and defence.
An MoU was signed between two state-owned oil companies ONGC Videsh and Petroecuador, and another between the Confederation of Indian Industries (CII) and the Export and Investment Promotion Council of Ecuador (CORPEI) in 2006 [REF].