“The volume of trade between both countries increased by 50 percent in 2021, and by 26 percent more in the first four months of 2022 compared to the same period last year,” said the statement.
Borisov and Faria also agreed to create favorable conditions for the implementation of mutually beneficial initiatives in business sectors and develop cooperation in energy, industry, transportation, agriculture, pharmaceuticals and advanced technologies.
They also welcomed the enhancement of ties between the Russian consumer protection office, Rospotrebnadzor, and the competent Venezuelan departments in the context of the fight against infectious diseases.
The officials also highlighted the successful work of the Russian pharmaceutical company Geropharm, which specializes in the production of insulin for diabetics in the Venezuelan market.
According to the statement, the Minister of Foreign Affairs of Venezuela expressed the solidarity of its Government and people with Russia in the current political and economic situation.
Borisov, in turn, thanked Venezuela for its independent foreign policy and stressed that Russian supports its Venezuelan friends in protecting their national interests.