China and Malaysia said bilateral relations are currently at its highest level and will continue to be strengthened, according to a joint press statement released on Thursday.
The two sides reiterated their commitment to enhance cooperation in various areas including seaports, air transport, railway, trade, law enforcement and defence, according to the press statement.
The two sides agreed to promote cooperation between seaports in Malaysia and China and support the development of China-Malaysia Port Alliance to realize the vision of the 21st Century Maritime Silk Road.
Stressing the importance of the ongoing cooperation on Malaysia's South Double Track Railway, China and Malaysia welcomed the proposed East Coast Rail Line project in Malaysia, the press statement said.
Based on China's statistics, the total volume of bilateral trade was registered at USD54.28 billion for the first eight months of this year. China has been Malaysia's largest trading partner since 2009 while Malaysia has been China's largest trading partner among ASEAN countries since 2008.
China and Malaysia discussed the prospect of strengthening imports of Chinese commodities. Malaysia is ready to increase palm oil export to China and increase its market share there, the press statement said.
Speaking positively of the two countries' cooperation in combating telecommunication crime, chasing fugitives overseas and counter-terrorism,China and Malaysia agreed to further strengthen law enforcement and counter-terrorism cooperation, it said.
The two sides also attached importance to expanding defense ties and welcomed the signing of the agreement on joint development and construction of the littoral mission ship for the Malaysian navy, it said.
Both sides emphasized the need for all sovereign states concerned to resolve their differences by peaceful means, through friendly consultations and negotiations, in accordance with universally recognized principles of international law, including the 1982 United Nations Convention on the Law of the Sea, it said.
It said both sides further emphasized the need for all parties to exercise self-restraint in the South China Sea. Both sides recognized that the involvement of parties not directly concerned could be counter-productive.
Both sides, together with the ASEAN Member States, would work hard to ensure the full and effective implementation of the Declaration on the Conduct of Parties in the South China Sea (DOC) in its entirety, as well as pushing forward consultations to ensure the early establishment of a "Code of Conduct" in the South China Sea on the basis of consensus, it said.