The Chinese Foreign Minister says China and Australia are facing a new opportunity for mutual development.
The comment comes as Wang Yi met up with Australian Prime Minister Tony Abbot in Canberra.
Wang says the two countries will work to complete the talks on a free trade deal that started back in 2005.
"In terms of trade, we are willing to meet each other halfway with Australia. So that we could complete the decade-long talks on a free trade deal. Apart from providing legal protection for bilateral trade, such a deal could also open up new areas of cooperation between the two sides. "
The two countries have also agreed to take part in each other's development projects, including China's western development program and Australia's northern development project.
For his part, Abbot says China is an important partner of Australia and that Australia is ready to strengthen its ties and cooperation with China.
The two countries have agreed to boost cooperation in agriculture and finance.
