They particularly considered trade and economic contacts between the two countries. Although in 2003 Russian-Venezuelan trade turnover increased almost three-fold from the year before, up to 120 million dollars' worth, the ample opportunities of bilateral trade-economic contacts are being underused.
"We can go a long way in this direction very soon, provided there is political will of both the sides", Fradkov said at the meeting.
They discussed bilateral cooperation in the electricity, oil and gas sectors, high-technology field.
Fradkov and Chavez outlined possibilities for Russia's participation in renovating the Venezuelan fleet of passenger and cargo aircraft, modernisation of the railway network, development of the joint fishing fleet and other directions.
The importance of direct contacts between the business circles of the countries was noted.
According to Fradkov, many Russian largest companies are showing interest in work on the Venezuelan market.
During the conversation, the sides made note of the good prospects for military-technical cooperation between Russia and Venezuela.
