Chinese Vice Premier Wu Yi on Wednesday in Nagoya stressed the significance of the Sino-Japanese economic relations and called to set up a bilateral free trade agreement for long-term and active ties.

The bilateral trade and economic cooperation plays an important role in the Sino-Japanese relationship. The cooperative ties have been tremendously fruitful thanks to the marriage between Japan's advantages in finance, technology, equipment and managerial experience and the extensive market and abundant labor force of China, Wu said at a ceremony celebrating the 50th anniversary of the Tokai Japan-China Trade Center, an institution engaged in promoting bilateral economic exchanges.

Wu noted the economic ties are growing both intensively and extensively and developing into a win-win situation, which serve as an essential foundation for an ever-lasting bilateral relationship.

Stressing there are more reasons for cooperation than for competition in the future, Wu brought forward a six-point proposal: First, Speeding up the building of the Sino-Japanese free trade agreement; second, actively pushing forward with the energy cooperation in the spirit of equality and mutual benefit; third, strengthening dialogue on strategies in various sectors, such as steel, shipbuilding, information technology, software; fourth, cementing technological cooperation featuring more technological transfer from Japan and joint research and development; fifth, expediting Japan's investment in backwater areas in China; last, expanding cooperation of middle- and small-sized enterprises.

Wu, who arrived in Japan on Tuesday on an eight-day visit, also met with Japanese Economy, Trade and Industry Minister Shoichi Nakagawa and Land, Infrastructure and Transport Minister Kazuo Kitagawa.

Wu commented at the meetings that economies of both countries are complementary. However, the cooperation is contained as the over-all bilateral relationship is confronted with serious difficulties.

She said one of her purposes for the visit is to materialize the consensus reached last month by the leaders of the two countries on maintaining a stable and healthy bilateral relationship.

Agreeing with Wu, Nakagawa said up to 20,000 Japanese firms are running business in China, which just demonstrates the importance of the economic cooperation.

Kitagawa promised that Japan will make substantial efforts to facilitate the bilateral exchanges as the ties are very significant.

Source: Xinhua