CARACAS -- Venezuela and China have laid the groundwork for a multilateral world marked by respect and cooperation, Venezuelan President Nicolas Maduro said on Monday.

"We have built the cultural, political and economic foundations for this new multilateral and multipolar world of respect and balance," Maduro said during a ceremony in honor of China's outgoing ambassador to Caracas, Zhao Rongxian.

Maduro awarded Zhao with the Order of Francisco de Miranda, for his work as China's top resident envoy in Venezuela. Maduro also hailed bilateral ties as being "founded on the most deeply felt human spirit."

China-Venezuela ties received greater impetus during the administration of former Venezuelan leader Hugo Chavez, said Maduro, and have since made great headway in the areas of education, industry, finance, agriculture and technology, among others.

Zhao said he was proud to have served in Venezuela since 2010, and to have witnessed historic moments in Venezuela's contemporary history under its revolutionary leader Chavez.

Zhao expressed gratitude toward the Venezuelan government and people for their long-term support, and hoped the comprehensive strategic partnership between China and Venezuela can further develop under the joint efforts to benefit both peoples.