Impressive progress has been made in the development of relations between China and Australia in recent years and their bilateral relationship is its best period now, a senior Chinese leader said on Monday.

Wu Bangguo, China's top legislator, delivers a speech at a forum on closer China-Australia economic and trade links, in Sydney, May 23, 2005.

Wu Bangguo, China's top legislator, told a forum on closer China-Australia economic and trade links that bilateral relations have witnessed unprecedented growth, as the foundation for developing ties strengthens day by day.

"The establishment of diplomatic ties in 1972 opened a new chapter in the friendly relations and cooperation between China and Australia," said Wu, chairman of the Standing Committee of the National People's Congress of China.

China-Australia relations have "made gratifying and impressive headway in recent years. It's fair to say that China-Australia relations are at their best right now, said Wu, currently on an official good-will visit to Australia, the second leg of his four-nation Asia-Pacific tour.

The two countries have never been so close at the top level as the political foundation of bilateral relations solidifies, he said in a keynote speech at the forum.

In 1999, then Chinese President Jiang Zemin paid a state visit to Australia, the first by a Chinese head of state to the country.

In 2003, President Hu Jintao paid a state visit to Australia, where he reached broad consensus with Australian leaders on deepening bilateral relationship of all-round cooperation.

In his fifth visit to China last month, Australian Prime Minister John Howard announced Australia's recognition of China's full market economy status. The two sides decided to launch negotiations on a bilateral free trade agreement, marking the beginning of a new stage of economic and trade cooperation between the two countries.

Close exchanges between leaders of the two countries have increased mutual understanding, enhanced political trust, consolidated the political foundation of bilateral ties and vigorously deepened China-Australia relations, Wu said.

Exchanges between the two peoples have never been so frequent as the social foundation of bilateral relations deepens, he said.

China and Australia enjoy unprecedented interaction and cooperation in science, technology, education, culture, tourism and other fields, and the closer people-to-people exchanges have greatly increased mutual understanding and friendship between the two peoples and vigorously promoted the all-round development of bilateral relations, Wu said.

Trade and economic cooperation has never been so dynamic and the material foundation of bilateral relations strengthens, Wu said.

Two-way trade has grown rapidly in recent years. It stood at 20.39 billion US dollars last year, an increase of 50.3 percent over the previous year and almost doubling the 2002 figure. China is now Australia's third largest trading partner and second largest export market.

As well, mutual investment has expanded steadily and areas of cooperation have broadened continuously.

The rapid growth in trade and economic relations has brought tangible benefits to the two countries and two peoples, reinforced the material foundation of bilateral relations, and injected fresh vitality into the overall relationship, Wu said.

Both China and Australia are important countries in the Asia-Pacific region and they share broad common interests, the Chinese top legislator said. Deepening bilateral ties of all-round cooperation is not only in the fundamental interests of the two peoples but also serves peace and development in the Asia-Pacific and the world at large, he said.

After Australia, Wu will also visit New Zealand and Malaysia. He had already visited Singapore.

Source: Xinhua