Carrizales and another Venezuelan official, Defense Minister Gustavo Rangel, arrived in Moscow on a three-day official visit Wednesday.
"The negotiations will focus on issues concerning the development of trade and economic relations," the source said.
Last year, trade between Russia and Venezuela almost doubled to $1.13 billion against $517 million in 2006. Exports earned $1.12 billion and imports stood at $12.5 million.
The two countries have been prioritizing cooperation in energy and mining. Russian energy giant Gazprom, the country's largest independent oil producer LUKoil, Russian-British joint oil venture TNK-BP, aluminum giant RusAl and a number of other companies are developing their commercial interests on the Venezuelan market.
Russia and Venezuela are also developing a number of joint projects in rail and air transportation.