Panama was elected on Tuesday (November 07) to an open U.N. Security Council seat as a compromise choice after weeks of a divisive battle between Venezuela and U.S.-backed Guatemala. To applause and cheers, Panama received 164 votes, more than the two-thirds needed in the 192-member U.N. General Assembly. Venezuela got 11 votes, Guatemala 4, and Barbados 1. A number of countries abstained. The outcome of Tuesday's formal vote was expected after Venezuela and Guatemala withdrew their candidacies last week in favor of Panama, which was then endorsed by the 35-nation Latin American and Caribbean group. "We feel we are well represented by Panama, a fraternal country and a member of the Central American Integration System," said Jorge Skinner-Klee, Guatemalan Ambassador to the United Nations. Guatemala received more votes than Venezuela in all but one of the earlier 47 rounds of balloting, but never reached the required two-thirds majority. Ambassador Skinner-Klee said Guatemala had carried out its campaign with dignity. "Madam President, although we regret the polarization of the campaign for reasons that did not arise from our own conduct, we are proud of Guatemala's campaign -- a systematic, professional, well-planned campaign carried out with dignity, respect and collegiality," he said , referring to its campaign with Venezuela. The ambassador also told the assembly his country would run for a seat in 2012-2013. Venezuela's failure to win the seat opening up in January on the most powerful U.N. body was a setback for President Hugo Chavez, who saw the council reinforcing his efforts to be a leading anti-U.S. voice on the world stage. The Venezuelan leader portrayed the contest as a battle against efforts by U.S. President George W. Bush to dominate the United Nations. Venezuela's U.N. Ambassador Francisco Javier Arias Cardenas told the assembly that members "clearly witnessed interventions," a reference to U.S. lobbying for Guatemala. Arias Cardenas said big countries have learned that they cannot impose their will and that the democratic processes of the General Assembly would prevail. "But there must be lessons learnt from these 46 rounds of balloting in the General Assembly. For the big countries, it should be clear that they cannot impose. The Assembly will not accept imposition and it exercises its freedom in democracy. We should also remember that some embraces end up killing you like bear hug and we should remember the strength and the power of the General Assembly," Arias Cardenas said, referring to U.S. support for Guatemala. But he said Panama was a good choice and served as "a bridge between central and south America." The United States, Russia, Britain, France and China hold permanent seats on the Security Council. Ten other nations sit on the council for two-year terms, five elected each year. Panama will take over the Latin American seat that Argentina vacates on December 31. Peru stays on the council until the end of 2007 along with the Congo Republic, Ghana, Qatar and Slovakia. In other regions, South Africa, Indonesia, Italy and Belgium received the necessary votes on October 16 to win two-year terms in the council. They replace Tanzania, Japan, Denmark and Greece.