Visiting Chinese President Hu Jintao and his Brazilian counterpart on Friday pledged to make concerted efforts to push bilateral relations towards long-term, steady and continuous development.

The countries inked a range of accords, in which Brazil recognized China's status as a market economy and both sides vowed to beef up cooperation in their fight against organized crimes.

Hu, who arrived at the largest Latin-American country on Thursday on a state visit, held "frank and fruitful" talks with Brazilian President Luiz Inacio Lula da Silva on Friday, according to a Chinese Foreign Ministry spokesman.

Hu said strengthening south-south cooperation - collaboration between developing countries - is the key for China and Brazil to address complicated and profound changes in the world, where the gap between the north and south is ever widening.

As China and Brazil are committed to a long-term task of self-development, both countries favour a new international political and economic order to be established on a fair and reasonable footing, Hu said.

The two countries have extensive mutual interests in international affairs, he said.

Hailing Hu's debut visit to Brazil as a "milestone" in bilateral relations, President Lula said the recent years have witnessed a rapid growth in Brazilian-Chinese rapport and remarkable results in cooperative fields, including politics, cultural and international affairs.

Lula reiterated that Brazil will firmly adhere to the one-China policy, to which President Hu expressed thanks.

The Brazilian president said Brazil places a high priority on relations with China, and said his country hopes to expand and deepen the Brazilian-Sino strategic partnership.

Hu said he believes that with joint efforts, the strategic partnership promises a bright future.

The Chinese president proposed that both sides maintain high-level visits, consolidate consultations and exchanges, further tap potential in their mutually beneficial cooperation, and enhance coordination in international organizations like the United Nations and the World Trade Organization.

Under Hu's proposals, trade is expected to hit US$20 billion in three years.

Sino-Brazilian trade surged by 58.4 percent to reach US$9.296 billion in the year through September, surpassing all of last year's volume, according to Ministry of Commerce statistics.

Lula said he fully agreed with Hu's proposals, and said Brazil will encourage its entrepreneurs to cooperate with Chinese business people.

On Friday noon time, China and Brazil entered into a landmark memorandum regarding trade and investment, in which Brazil formally endorsed its recognition of China's status as a market economy.

The document was signed by Chinese Minister of Commerce Bo Xilai and Brazilian Foreign Minister Celso Amorim.

Brazil is the first leg of the president's Latin American trip, which will also bring him to Argentina, Chile and Cuba through November 23.

While visiting Santiago, capital of Chile, Hu is scheduled to attend the 12th Informal Leadership Meeting of Asia-Pacific Economic Cooperation (APEC) between November 20 and 21, according to Chinese Foreign Ministry sources.

(China Daily November 13, 2004)