Chinese Premier Wen Jiabao on Thursday vowed to double the country's trade volume with Austria in five years, and boost bilateral cooperation in diversified areas including environmental protection and energy saving.

Wen made the pledge during his official talks in Beijing with Austrian Federal Chancellor Werner Faymann, who arrived earlier on Thursday for a three-day visit to China.

This year marks the 40th anniversary of China-Austria diplomatic ties. Both of the two leaders spoke highly of the progress of bilateral relations over the years, agreeing to further boost high-level visits, expand cooperation in trade, energy saving, culture and other areas, to upgrade bilateral relations.

The trade volume of China and Austria reached 8.2 billion euros last year. China has overtaken the United States to be the largest trading partner of Austria.

Wen called on both countries to keep close contacts on bilateral and major international issues, and make full use of the bilateral consultation mechanisms to push forward exchanges and cooperation.

"We are ready to make joint efforts with Austria to achieve the balance and diversification of trade as well as sustainable growth," he added.

The Chinese premier pledged to encourage Chinese companies to invest in Austria and participate in the economic construction of central and eastern Europe, and support enhanced bilateral cooperation in energy saving, renewable energy, modern manufacturing, high technology, cultural and education.

He also called on Austria to expand investment in China, and in particular, the country's central and western regions.

With regard to the celebrations of 40th anniversary of China-Austria ties, the two leaders agreed to make joint efforts to ensure the celebration activities to go according to plan.

Faymann agreed with Wen's proposals on deepening bilateral ties, adding it is of vital importance for Austria to develop relations with China. He said he believes that with the joint efforts from both sides, Austria-China relations can reach a higher level.