China and Malaysia agreed to further expand and deepen their strategic cooperation in a joint communique released on Thursday in Kuala Lumpur after talks between Chinese Premier Wen Jiabao and Malaysian Prime Minister Abdullah Badawi.

The two sides will keep up high-level exchanges of visits, and strengthen exchanges between the governments, parliaments, political parties and peoples of all walks of life of the two countries, said the communique.

In order to strengthen bilateral cooperation, the two sides will enhance the mechanism of consultation and cooperation in the diplomatic, economic, trade, scientific and technological fields, it added.

The foreign ministries of the two countries will draw up a plan of action for China-Malaysia strategic cooperation to map out a comprehensive plan for bilateral cooperation, said the communique.

China and Malaysia will continue to expand bilateral trade and mutual investment, vigorously push forward trade and investment liberalization and facilitation, and strive to increase bilateral trade to 50 billion U.S. dollars a year by 2010, it said.

The two sides have agreed to conduct feasibility studies on a China-Malaysia Economic Partnership Agreement (EPA) in efforts to promote the long-term development of China-Malaysia trade and economic cooperation, it noted.

Meanwhile, China and Malaysia also pledged efforts to push forward cooperation in the fields of energy, health care, food security, education, and further the collaboration in water services and conservancy, marine science and technology and biotechnology, said the communique.

They look forward to further cooperation in central bank currency swap and in other areas in the financial sector.

China and Malaysia agree to further boost the cultural exchanges of the two peoples, especially contacts among the youth, so as to pass on the China-Malaysia friendship from generation to generation, said the communique.

Efforts will also be made to promote tourism cooperation and cooperation in human resource development between the two countries, it said.

Source: Xinhua