Participants attending a meeting of the China-Spain Forum agreed on Wednesday in Barcelona that the overall bilateral cooperation will enter a new phase as the two countries face a broad future in cooperation in various fields.

China and Spain have great potential for future cooperation in various fields, and the Forum will ultimately lead to the establishment of a necessary permanent institution, said a communique released at the end of the two-day meeting with the participation of more than 400 delegates from the two countries.

The communique said both China and Spain have a vigorous economy and witnessed a rapid economic growth in recent years, which created many business opportunities in further boosting cooperation between enterprises of the two countries in fields such as energy, infrastructure and tourism.

In addition, the Spanish government said it will encourage Spanish enterprises, especially small and medium-sized companies, to invest in China and further cooperate with China in the financial and services sectors.

According to the communique, Spain will establish Cervantes institutes in China to improve Spanish teaching. The two countries will also add Spanish language and Chinese language programs in their middle schools to facilitate language studies.

The two countries will also exchange experience in preparing and holding Olympic Games, promote visits between athletes, and strengthen exchanges in sports education and sports medicine.

The China-Spain Forum, an unofficial organization, was established in Beijing in July 2003 as a platform for a full-range development of friendly bilateral cooperation.

Beijing hosted the first meeting in December 2003, and the third meeting will be held in China at the end of next year.