The transcript of the beginning of Vladimir Putin's meeting with Hugo Chávez:

Vladimir Putin: Mr President, friends,

I am happy to welcome you here. I am sure that you have had a very informative talk with President Dmitry Medvedev. I would like to say that our countries' relations are built on a solid basis and they have been developing very successfully over the past year.

Naturally, one of the main areas of our cooperation is energy. This is understandable since, firstly, Russia is a country that contributes considerably to the world's energy system, and secondly, energy resources are in the highest demand today.

Lately, we have been strengthening the legislative base for our cooperation, searching for new ways to diversify our relations, to find new areas for collaboration, such as transportation, aerospace, science-intensive production, and of course, military-technical cooperation. You know that Russia is a reliable partner in this respect. We hope to develop cooperation in all these areas, including humanitarian aspect.

We are very glad to see you, Mr President. Welcome to Russia!

Hugo Chávez: Thank you very much. First, Prime Minister and my friend, I would like to congratulate you on your appointment to such an important position after leaving the Presidential post, which you occupied for eight years. I want to thank you for all the actions and decisions you took with dignity to support my country.

The work never stops. I have just met with Russian President [Dmitry Medvedev]. I have forgotten that he was also in New York during our first meeting in the UN, and he reminded me of that. Our talk lasted for more time than was planned, but it is not my fault - he spoke more than I did.

We discussed certain issues in detail, considered a number of issues that we have made progress on over the years, signed several agreements, which relate to cooperation in the oil and gas sphere, particularly, in the Orinoco River basin area. According to LUKoil's representative, we will work under these agreements for the next six years. I think we have all the necessary conditions to move this process forward.

Of course, we will move ahead in other spheres as well, but the energy issue cannot be neglected. We will develop cooperation in the military-technical sector, in industry, technology and finances, the spheres I consider fundamental.

Thank you for welcoming us here. We will clarify certain questions during this visit. But before anything else, I would like to ask you to specify the date of your visit to Venezuela.

Vladimir Putin: Where are the officials from the Foreign Ministry? They will settle this question properly, setting the date most suitable for you. I remember your invitation, and we will certainly do it.

Hugo Chávez: Will you have more or less time now [after being appointed Prime Minister]?

Vladimir Putin: I think that we will find the time for the visit.

Hugo Chávez: I know that now you have even more work to do.

Vladimir Putin: If you work in real earnest, there is always plenty to do. Those who do not want to work will always find reasons not to do something.

Hugo Chávez: To avoid work.

Vladimir Putin: But we chose another way. I know that large-scale reforms are currently being implemented in Venezuela, as in Latin America as a whole, and the region is developing very actively. Russia, which has always had good relations with Latin American countries, is certainly interested in developing our relations today and in the future.