LIMA, May 5 (Xinhua) -- Bolivia and Spain agreed on Friday in La Paz to assess together Bolivia's nationalization of hydrocarbons and the measure's impact on the Spanish/Argentinian firm Repsol/YPF.

    Spain's secretary of for Latin American affairs, Bernardino Leon, made an announcement to this effect after meeting with Bolivian President Evo Morales, said reports from La Paz.

    Leon said the Bolivian government affirmed its commitment to "offering guaranties and juridical assurances for a process to be developed at the highest level."

    He said "Spain wishes to exhaust all diplomatic avenues to reach a full agreement with Bolivia on this subject."

    "Today we begin a dialogue and a negotiation which will have an impact on the governments and oil companies of both countries," the official said.

    The Bolivian government said hydrocarbons nationalization is irreversible and that in case it reaches agreement with oil companies over their presence in the country they will enjoy juridical security and will be profitable. Enditem