Venezuela is becoming an important partner of Russia and Moscow highly values its cooperation with the Latin American country, Russian President Dmitry Medvedev said?in Moscow?on Thursday.

Medvedev said during talks with his Venezuelan counterpart Hugo Chavez that the development of relations between Russia and Latin American countries had become crucial and Venezuela was a key partner in this respect.

Chavez, who is on a two-day visit to Russia, said the unipolar world "has been destroyed."

"I remember that 10 years ago we were walking here with then President Vladimir Putin, discussing the creation of a multi-polar world. This time has come already, and the multi-polar world does exist," Chavez was quoted as saying by Itar-Tass news agency.

During the meeting at a Russian presidential residence near Moscow, Chavez announced that Venezuela was recognizing Georgia's breakaway regions of Abkhazia and South Ossetia as independent states.

Venezuela is the third country to recognize the independence of the two regions after Russia and Nicaragua.

At a joint press conference after their talks, Medvedev said military cooperation was an integral part of the bilateral ties and he pledged to continue arms supplies to Venezuela and, in the meantime, shoulder due international obligations.

The Russian president also said military-technology cooperation aimed at fighting drug trafficking and organized and transborder crime should not be politicized.

After the meeting, the two countries signed about 10 arms and energy documents without giving details of the military agreement.

Under an energy deal, Venezuela's state oil company, PdVSA, and a consortium of major Russian producers are to establish a joint venture to develop the Junin-6 field in Venezuela's Orinoco heavy crude belt.

Chavez arrived in Moscow on Wednesday after concluding a visit to Belarus. This is his eighth visit to Russia.

(Xinhua News Agency September 11, 2009)