Visiting Chinese Vice President Xi Jinping Tuesday spoke highly of all-round cooperation between China and Latin America.

Both sides should work hard to promote the all-round cooperation as to pursue common development, Xi said at a seminar attended by Venezuelan President Hugo Chavez, Vice President Ramon Carrizales and entrepreneurs.

Since China and Venezuela established the strategic partnership for common development in 2001, the cooperative relations between the two countries have achieved rapid development.

Pragmatic cooperation has been fruitful, with high-level contacts growing and mutual political trust increased, Xi said.

Venezuela is now China's fourth biggest source of oil and also its fifth biggest trading partner in Latin America.

Xi proposed that joint efforts be made to further promote China-Venezuela friendly cooperation.

Both sides should focus on common development and deepen mutual political trust, enriching the content of their strategic partnership, he said.

Efforts should be made to improve the mechanism of bilateral cooperation with a view to raising the level of cooperation, he said.

China and Venezuela should also strengthen cooperation in energy and finance and seek new forms of cooperation, he added.

Strengthening friendly and mutually beneficial cooperation between China and Venezuela is also conducive to the development of China-Latin America relations as a whole, Xi said.

Venezuela President Chavez paid tribute to China's great achievements made over the past six decades since the People's Republic of China was founded in 1949.

Xi arrived in Caracas Tuesday for an official visit to Venezuela, the fourth leg of his six-nation tour.

Xi has already visited Mexico, Jamaica and Colombia and will travel on to Brazil and Malta.

Source: Xinhua