Nicaraguan President Daniel Ortega Saavedra said on Tuesday that he is ready to work with his new U.S. counterpart in line with the principle of mutual respect.

No matter who wins the U.S. presidential election, Democrat Barack Obama or Republican John McCain, he would like to keep the Nicaragua-U.S. ties according to the principle of mutual respect, Ortega said during an official event.

The participation of an African-American presidential candidate is a transcendental and revolutionary move in the U.S. history where the racism is predominant, Ortega said.

The president also thanked the U.S. for its financial aid of 5 million U.S. dollars to eradicate child labors. U.S. ambassador to Nicaragua Robert Callahan in Managua recently announced the offer.

"I want to thank the U.S. people and their government for their help on behalf of the Nicaraguan children," Ortega said.

(Xinhua News Agency November 5, 2008)