China and the Philippines issued a joint statement Wednesday, stipulating cooperation on Belt and Road construction and agreeing to discuss maritime cooperation during President Xi Jinping's state visit to the country.

Xi and his Philippine counterpart, Rodrigo Duterte, held a bilateral meeting, wherein they charted the course for the future of China-Philippines bilateral relations, had an in-depth exchange of views on regional and international issues of common interest, and reached important consensus, according to the joint statement.

The Chinese and Philippine presidents decided to establish the relationship of comprehensive strategic cooperation on the basis of mutual respect, sincerity, equality, mutual benefit and win-win cooperation.

The two leaders recognize that the elevation of China-Philippines relations to higher levels is in line with the fundamental interests and shared aspiration of the two countries and peoples, the joint statement said.

The Chinese and Philippine sides welcome the signing of the Memorandum of Understanding (MoU) on Cooperation on the Belt and Road Initiative, it added.

Both sides welcome the signing of the MoU on Cooperation on Oil and Gas Development between the two governments, and agree to discuss maritime cooperation including maritime oil and gas exploration, sustainable use of mineral, energy and other marine resources, read the joint statement.

They also agree to strengthen existing cooperation mechanisms in other maritime-related areas, according to the document.

The two-day state visit to the Philippines has been the first one by a Chinese head of state in 13 years.