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The Philippines and China can provide each other with lots of opportunities for cooperation in areas such as economy, trade, investment, energy, infrastructure, tourism and manpower, he said.

He recalled that leaders of the five countries met last month on the sidelines of the 11th summit of the Group of 20 major economies in the eastern Chinese city of Hangzhou, where they had an in-depth exchange of views on promoting BRICS cooperation and reached many important consensuses.

Lu said countries in the region have agreed to adhere to a dual-track approach on the South China Sea issue, with disputes to be resolved peacefully through direct negotiations between parties concerned, and to work together to maintain peace and stability.

The dialogue was jointly chaired by Wang Yongqing, secretary-general of the Commission for Political and Legal Affairs of the Communist Party of China Central Committee, and R.N. Ravi, chairman of Joint Intelligence Committee of India.

On the other side, Canada's decision to apply for membership at the Asian Infrastructure Investment Bank was applauded as one of the major achievements of Trudeau's visit to China. The membership in the China-initiated bank, as it was believed by Canadian politicians and researchers, would not only promote the economic development of the maple country, but also helps them explore business opportunities in the entire Asia.