November 11, 2005
Venezuela and Russia agreed to strengthen bilateral relations

(Agencia Bolivariana de Noticias) -"Vice President of Venezuela, José Vicente Rangel, informed about the topics discussed during the II High Level Russian-Venezuelan Intergovernmental Meeting, which were economical co-operation, energy and fuel, technology and science, education, culture, sports and tourism, as well as technical/military co-operation.

After signing the Final Act of the meeting at Miraflores Palace in Caracas , Vice President Rangel informed that the heads of the delegations expressed their interest in strengthening bilateral relations.

They also expressed their satisfaction with the developments made by commissions and sub-commissions in order to expand the co-operation between the Russian Federation and Venezuela .

"Co-operation between our countries has been consolidated with highly successful results allowing us to point out several agreements achieved by both delegations", Vice President Rangel, said.

He was also enthusiastic about the interest shown by the Russian banking sector in participating in economical co-operation projects, as well as the beginning of negotiations for air-commerce, which will increase both commerce and tourism.

Regarding science and technology, he said they had identified several programmes to be developed shortly, "technological exchange will be focused on aero-space, forecasting of natural threats and saving the environment".

He highlighted the commissions did not limit themselves to intergovernmental meetings, they also did investment rounds with business people, which had excellent results.

Regarding the investment letters subscribed during the Russian-Venezuelan business round in May, he said they observed development in the subscription of five letters of intention and the installation of a refining plant".

During his speech, Vice President Rangel also expressed his recognition to the Russian business people "who believe in Venezuela , and specially to the Venezuelan business people who still believe in their country".

On the other hand, Alexander Zhukov, Vice Prime Minister of the Russian Federation , thanked President Chávez for the warm welcoming he received during his visit to Caracas and saluted him on behalf of Russian President, Vladimir Putin.

He said the meeting was productive and its results reflected the increasing interest from both nations in boosting the development of bilateral relations.

He also highlighted the importance of achieving specific goals that have been expressed by signing the final act.

The Russian-Venezuela exchange, he said, will increase significantly during the next few years, and not only regarding the subscription of agreements in the hydrocarbons sector, but also the participation of Russian companies in the construction of thermoelectrical plants and in the mining industry.

Alexander Zhukov expressed their good will to promote an adequate business environment for all the Russian companies participating in the subscribed agreements, who are very interested in the Venezuelan market".