Sino-Oz comprehensive strategic partnership forged

China and Australia embarked on a new journey for their relations Monday as the two countries upgraded their diplomatic ties to a comprehensive strategic partnership and practically concluded their negotiations on a free trade agreement (FTA). [Special coverage]

GROWING TIES

"It is a natural result for the two sides to jointly decide to elevate the bilateral ties," visiting Chinese President Xi Jinping told Australian Prime Minister Tony Abbott during their talks here Monday.

Both as important countries in the Asia-Pacific region, China and Australia have enjoyed economic complementarity, friendly people-to-people relations, frequent contacts and extensive cooperation, Xi said, noting that such features in the bilateral relations as being "comprehensive and strategic" have been increasingly outstanding.

"The two sides should proceed from the new historic point to expand exchanges, strengthen dialogues, respect each other, forge ahead and deepen cooperation, thus bringing more benefits to people in both countries and contributing more to the peace and prosperity in the region and the whole world at large," Xi said.

Abbott said that President Xi's visit bears historic significance and the establishment of a comprehensive strategic partnership between Australia and China marks a higher level of their bilateral relations.

He said that Australia admires the achievements China has made in reform and opening-up and is willing to enhance cooperation with China on the basis of mutual respect, friendship and mutual benefits.

FTA TALKS

The practical conclusion of bilateral FTA talks "is a big event worth celebrating in our trade and economic relations," Xi told Abbott.

"The two sides have taken a pragmatic attitude to address the concerns of each other, and the FTA demonstrates a balance of interests and is a high-quality, high-level deal," he said.

On energy resources, Xi said, the two sides should go beyond the simple model of goods trade to advance the cooperation in upstream and downstream integration and build a long-term strategic cooperative partnership.

The two countries should continue to strengthen cooperation in infrastructure construction, agriculture and animal husbandry, and financial services, the president said.