RUSSIA READY TO DEVELOP TRADE AND ECONOMIC COOPERATION WITH VENEZUELA - FRADKOV

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MOSCOW, November 25 (RIA Novosti) - Russia is ready to undertake practical efforts to develop trade and economic cooperation with Venezuela, announced Russian Premier Mikhail Fradkov.

"For starters, we are willing to make concrete efforts to develop bilateral trade and economic ties. In that respect, we have a rather promising potential, although we have not been using it to the fullest, unfortunately," said Mr. Fradkov in the opening speech at the meeting with President of Venezuela Hugo Chavez.

The Russian Premier expressed satisfaction with the development of bilateral relations between Russia and Venezuela.

"In that respect, we have well-established guidelines - the agreements between you and President Putin. We highly regard the willingness of the Venezuelan government to cooperate with the Russian leadership. We are interested in the future development of relations between our countries," said Mr. Fradkov addressing the President of Venezuela.

In his turn, Hugo Chavez stated that Russia and Venezuela established cooperation less than four years ago and the work accomplished during this period is only "the foundation of the building to be constructed."

On Thursday morning, during the meeting with State Duma (lower chamber of the Russian Parliament) Speaker Boris Gryzlov, the President of Venezuela remarked that it was his third visit to Russia and pointed out that he considered it very important "because of a number of new developments in the global situation."

Mr. Chavez also called for the development of inter-parliamentarian ties between Russia and Venezuela emphasizing the fact that "they are paramount for the development of both countries."

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