MOSCOW, November 16. /TASS/. Moscow and Caracas agreed to take specific steps to expand trade and business ties, Russian Foreign Minister Sergey Lavrov said at a press conference following talks with Venezuelan Foreign Minister Yvan Gil Pinto.

"We share the view that, against the backdrop of the West's massive sanctions campaign, our bilateral cooperation should contribute to increasing the stability of national economies and the implementation of import substitution programs, thereby strengthening our countries’ technological sovereignty. We agreed on practical measures to expand trade and investment cooperation based on these guidelines, which were approved during contacts between our presidents (Vladimir Putin and Nicolas Maduro - TASS)," the minister said.

Lavrov noted that during the negotiations the parties also agreed to expand contacts between business circles, taking into account current realities and the long-term challenges facing the countries.