"Trade turnover between our countries increased more than two times last year. I think the increase was prompted by Venezuela's recognition of the market status of the Russian economy," the Russian president said after the meeting with his Venezuelan analogue, Hugo Chavez.
"One of the crucial goals today is the broadening of the range of products in trade, investment cooperation, production cooperation," Mr. Putin stressed.
The two presidents note in the joint declaration that the level of bilateral trade is not corresponding to the two countries' potential.
Mr. Putin and Mr. Chavez think it necessary to take steps towards more weighted-out trade increments and stress the importance of creating favorable conditions for the emergence on Russian and Venezuelan companies on the two countries' markets.
The two presidents express satisfaction over the results of the October 5 first session in Moscow of the intergovernmental Russian-Venezuelan commission, which will promote the development, strengthening and broadening of cooperation between the two countries.
On results of the Kremlin talks, the following was signed in the presence of the presidents: the intergovernmental agreement on cooperation in sectors of the fuel-energy complex, agreement on interaction in opposing money-laundering, and the protocol on the completion of the bilateral talks on access to the goods and services market within the framework of Russia's joining the World Trade Organization.
Vladimir Putin and Hugo Chavez receive with satisfaction the completion of the Russian-Venezuelan talks on the World Trade Organization.
"We have received with satisfaction the completion of the Russian-Venezuelan goods and services talks within the framework of the World Trade Organization. It will strengthen the system of multilateral trade," the joint presidential statements reads.
Vladimir Putin and Hugo Chavez confirm the importance of concluding the agreement on energy cooperation.
"We confirm the importance of concluding the agreement on energy cooperation, which intends cooperation in the survey, extraction, production, transportation, processing, keeping, trade in and the use of oil, natural gas, coal and other energy resources," reads the joint statement of the Russian and Venezuelan presidents.
In addition, it says that Russia and Venezuela are going to continue active cooperation in the military-technical field.
"The sides have agreed to continue all-round promotion of cooperation in the military-technical sphere," the document reads.
