Chavez and the King bury the hatchet
During the summit in Chile, the monarch asked President Chavez to shut up after bickering with Spain's Prime Minister Zapatero.
In his weekly TV address, Hugo Chavez said he was glad to have restored good relations with the King.
On Friday, King Juan Carlos and Hugo Chavez held their first meeting since the incident, which made headlines around the world.
The king's outburst has become a popular insult among Spanish speakers. The phrase «¿Por qué no te callas?» (Why don't you shut up?) has been printed on T-shirts and transformed into mobile-phone ringtones downloaded by millions.
Chavez said he had invited both the king and prime minister Zapatero to Venezuela after being presented with the T-Shirt.