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(19 Jan 1999) Spanish/Nat The presidents of Peru and Ecuador on Monday inaugurated the first concrete markers demarcating a 78 kilometer (49 mile) stretch of border that has formally ended Latin America's last border flashpoint. Presidents Alberto Fujimori of Peru and Jamil Mahuad of Ecuador met at the hot, muddy border spot of Lagartococha. The peace accord was signed last October. Fujimori and his Ecuadoran counterpart, Jamil Mahuad, met in a clearing hacked from the Amazon jungle, 1,300 kilometers (800 miles) northeast of Peru's capital, Lima. Peru and Ecuador fought two wars over the border area in the Andean foothills which was claimed by both countries. The four waist-high border markers were the first of 27 that the two governments plan to place along their unmarked frontier. Officials expect to complete the demarcation in April. Speaking at the inauguration, the President of Ecuador spoke of the length of the dispute. SOUNDBITE: (Spanish) "If you look at the date on the marker, you'll see '2nd of January 1946'. Today during the same month - January - 53 years later, we go ahead with this (peace) process." SUPER CAPTION: Jamil Mahuad, President of Ecuador And his Peruvian counterpart, Alberto Fujimori, said that the peace brokered between the two countries had started a new partnership. SOUNDBITE: (Spanish) "We decided to go ahead with this process that will lead us to an agreement and from that agreement to a specific place - the border markers - and from the markers, to the roads, to the communication roads, to the navigation and commerce centres. This is an unstoppable process for both sides because that's our commitment." SUPER CAPTION: Alberto Fujimori, Peruvian President The formal boundary fixing underlined the end of a decades-old territorial dispute that caused periodic clashes. The two countries have fought wars in 1941, 1981, and most recently in 1995 After diplomatic intervention from Argentina, the United States, Chile and Brazil, the two presidents signed the peace deal after face-to-face talks. The two leaders will meet again next month in Washington, to work out details of a 3 (b) billion U-S dollar loan package for cross-border projects promised under their new peace treaty. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: / ap_archive Facebook: / aparchives Instagram: / apnews You can license this story through AP Archive: http://www.aparchive.com/metadata/you...