"The recent trade increase has been mainly ensured through grain deliveries from Russia. Russia delivered 254,000 tonnes of grain worth over $57 million to Venezuela last year. There are plans to deliver up to 600,000 tonnes of grain this year," the materials read.
The countries are also working on creating joint agricultural enterprises.
In a separate development, Russia's investment in Venezuelan mining projects could reach $1 billion, as there is a great interest in producing diamonds and gold, according to the materials for the upcoming talks between Russian President Vladimir Putin and his Venezuelan counterpart, Nicolas Maduro.
"First of all, there is a great interest in producing diamonds and gold. According to Venezuela's estimates, the Russian side's investment participation may reach around $1 billion," the document read.
Meanwhile, Russia's Rosneft, Gazprom Neft, Gazprom and Inter RAO are participating in investment projects in Venezuela.
The two countries also enjoy promising industrial cooperation, with Russia's Kamaz delivering trucks, bus chassis and spare parts to the country. Buses are assembled at four plants in different regions across Venezuela, with over 1,100 jobs created.
Venezuela has been experiencing a humanitarian and political crisis that intensified in January when US-backed opposition leader Juan Guaido disputed Maduro's re-election and declared himself interim president. Russia, China, Turkey and several other countries, meanwhile, have stated that Nicolas Maduro is the only legitimate head of Venezuela.