Venezuela to give up UN candidacy for Bolivia: Morales

Venezuela has agreed to drop out of the hotly contested race for Latin America's open seat on the UN Security Council and asked Bolivia to run in its place, Bolivia's president said.

"Comrade (Venezuelan President Hugo) Chavez says that to find a consensus he leaves the candidacy to Bolivia," President Evo Morales said at a ceremony with small business owners in the La Paz suburb of El Alto.

US critic Venezuela has battled for the seat against US-backed Guatemala but neither country was able to win the two-thirds majority needed to win the spot after three-dozen polls at the UN General Assembly.