RUSSIA, June 17 - The two parties focused on developing measures to increase bilateral trade by diversifying supplies, including in healthcare, industry, agriculture and fertiliser production.

Before the talks began, Deputy Prime Minister Yury Borisov and Executive Vice President and Minister for Economy, Finance and Foreign Trade of Venezuela Delcy Rodriguez spoke at a session, Transformation of Cooperation Chains: New Opportunities and Prospects. Ms Rodriguez shared the experience Venezuela gained in overcoming the external sanctions pressure.  

Afterwards, the two officials discussed key areas of cooperation, including launching new promising projects such as establishing a joint centre in Venezuela for preventing and researching infectious diseases.  

“This meeting on the sidelines of the forum offers a good opportunity to continue discussing topical issues related to strengthening the multifaceted partnership between Russia and Venezuela, in keeping with the course mapped out by the presidents of our two countries,” said Mr Borisov. “We are sincerely grateful for the support and solidarity from the Government and people of Venezuela in connection with Russia’s special military operation in Ukraine. We see it as proof of the strategic nature of the relationship between our countries.” 

The high officials noted the progressive expansion of bilateral trade and economic cooperation. In line with the existing trend, bilateral trade continued to grow in the first quarter of 2022, reaching $38.5 million in January through March, up 82 percent from the same period in 2021. They agreed that it was necessary to diversify the range of commodities and areas of cooperation.