Venezuela said Wednesday that it intended to mend its battered relationship with the U.S. following the election of Barack Obama as American president.

A communique from the Venezuelan Foreign Ministry ordered by President Hugo Chavez said, "The government of the Bolivarian Republic of Venezuela ratifies its will and determination to build, on absolute respect to the sovereignty bases, a bilateral constructive agenda for the well-being of the Venezuelan and U.S. people."

The communique, which was published a few hours after Obama seized victory, hailed the historic election of an African-American as head of the "most powerful nation in the world."

"We are convinced that we have reached the time to reset new ties between our countries and with our region, based on the principles of respect and sovereignty, equality and true cooperation," the communique said.

Ties between the United States and Venezuela were put on hold after Chavez expelled the U.S. ambassador on Sept. 11 and the United States imposed sanctions on Venezuelan officials a day later.

(Xinhua News Agency November 6, 2008)