MEXICO, July 21 (RIA Novosti) - Venezuela's president praised Friday prospects of cooperation with Russia, mainly in the energy sphere.

Hugo Chavez told the national radio that Russia, which possessed high technologies and a vast experience in natural gas production and transportation, had been invited to join the construction of the world's longest gas pipeline across South America.

Chavez, who is due to visit Russia July 25-27, also said Venezuela was interested in military and technical cooperation with Russia.

Russian Defense Minister Sergei Ivanov said earlier on Friday that Russia had signed a contract on supplies of military planes and helicopters to Venezuela worth over $1 billion.

Venezuela's radio reported that bilateral trade stood at $60 million in 2003 and had grown by 400% in the following years with no account for military and technical contracts.