Chavez held, what some called, a heated discussion with Colombian President Alvaro Uribe at a regional meeting in Mexico.
That was after Uribe accused Chavez of imposing a blockade on trade with Colombia.
Later, at a news conference, Chavez said "We are the ones who most regret this incident, at a meeting where feelings of profound brotherhood and fraternity reigned for several hours."
Chavez said the tensions did not affect agreements reached at the summit.
Venezuela and Colombia often spar over internal Colombian conflicts that sometimes spill over the border into Venezuela.
But the current feud is damaging 7 billion dollars a year in trade between the two countries,
Violence is common along the more than 2-thousand kilometer border.
It´s where outlawed Colombian militias, leftist guerrillas, drug traffickers and smugglers operate.
President Uribe is a U-S ally, and has offered to allow U-S troops to operate from Colombian military bases
Chavez has warned the bases could be used to launch an U-S offensive against Venezuela.