China and the Philippines issued a joint statement in Manila Thursday as Chinese President Hu Jintao concluded his two-day state visit to the Philippines.

In the joint statement, the two sides stressed that China-Philippine relations have reached the golden age of partnership and that the continuously developing friendly relationship between the two nations not only serves the fundamental interests of the two countries but also contributes to peace, stability and prosperity in the region.

The two sides agreed to maintain frequent high-level contacts and exchanges, vigorously promote economic cooperation and trade, further strengthen cooperation in agriculture, infrastructure and mineral resources, increase personnel exchanges and promote defense and security cooperation.

The Philippines reaffirmed its adherence to the one-China policy and expressed its supports and appreciation for China's efforts to peacefully resolve the Taiwan issue and to realize national reunification.

In addition, the two sides agreed to continue efforts to safeguard peace and stability in the South China Sea.

The two sides welcomed the signing of the Tripartite Agreement for Joint Marine Seismic Undertaking in the Agreement Area in the South China Sea by China National Offshore Oil Corporation, Vietnam Oil and Gas Company and Philippines National Oil Corporation as a historic step toward the transformation of the South China Sea into a sea of friendship and cooperation.

In the statement, the two countries reaffirmed their commitments to the China-ASEAN strategic partnership for peace and prosperity, the China-ASEAN Free Trade Area and the process of East Asian cooperation.

Hu and President Gloria Macapagal-Arroyo on Wednesday had an in-depth exchange of views on bilateral relations and international and regional issues of common concern in a cordial and friendly atmosphere.

The two leaders expressed their satisfaction with the remarkable progress in cooperation in various fields over the past 30 years since China and the Philippines established diplomatic relations.

Source: Xinhua