During a meeting with Bbasescu on the sidelines of the celebration, Hu said the two countries and two peoples have forged a deep traditional friendship and bilateral ties have stood the test of time and changes in international situations.

Developing the bilateral ties is in the fundamental interests of the two peoples and is also conducive to safeguarding global peace and stability, Hu said.

China stands ready to work with Romania to bring the comprehensive partnership of friendly cooperation between the two countries to a higher level, Hu said.

Bbasescu, for his part, said the friendship between the peoples of Romania and China is the result of years of joint endeavor and strengthening ties with China has always been the consensus of all parties in Romania.

The Romanian government adheres to the one-China policy, Bbasescu said.

The two heads of state agreed to expand the mutually beneficial cooperation between the two countries.

Hu said Chinese-Romanian economic and trade ties have a great potential and both sides should support an expansion of investment by businesses of the two countries.

Bbasescu said Romania is working to develop its tourism industry and transport facilities, providing great opportunities for bilateral cooperation as Chinese companies have a competitive edge in these fields.

(Xinhua News Agency May 10, 2005)